KARACHI: Pakistan’s Finance Minister Muhammad Aurangzeb and Saudi Investment Minister Khalid bin Abdulaziz Al-Falih met in Davos this week to strengthen bilateral cooperation, Pakistan’s Finance Division said.
The ministers met on the sidelines of the 56th annual World Economic Forum (WEF) summit on Thursday. They reviewed ongoing projects and progress across multiple sectors and discussed plans for future collaboration.
“Both sides reiterated their strong resolve to expand bilateral collaboration through close cooperation, stronger institutional linkages, and regular high-level contacts,” the Finance Division said.
The two ministers agreed that sustained engagement and mutual understanding would help translate shared objectives into tangible, mutually beneficial initiatives.
Al-Falih appreciated Pakistan’s strategic location, natural resources, and emerging investment opportunities, according to the statement. The meeting concluded positively, with both ministers expressing confidence that continued dialogue would further strengthen economic and investment ties.
Pakistan and Saudi Arabia share decades-long cordial relations, rooted in shared culture, faith, and economic ties. The Kingdom hosts over two million Pakistani expatriates, making it the country’s largest source of remittances.
In 2024, the two countries signed 34 business agreements worth $2.8 billion across multiple sectors. Saudi Arabia has also supported Pakistan in past economic crises, providing loans and oil on deferred payment terms.
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The meeting follows a series of recent agreements, including a landmark defense pact in September 2025 and an economic cooperation framework signed a month later to boost trade and investment relations.
