Islamabad, October 29, 2026(Kamran Raja): Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb met with Saudi Ambassador to Pakistan Dr. Rajeh Tami Albugamy in Islamabad to discuss strengthening bilateral economic cooperation, expanding trade and investment, and enhancing the longstanding strategic partnership between the two countries. During the meeting, the Finance Minister welcomed the Saudi Ambassador and reaffirmed the historic bonds of friendship and brotherhood between Pakistan and Saudi Arabia. He appreciated the Kingdom’s continued support for Pakistan and emphasised the need to further strengthen economic ties through increased trade, investment and commercial engagement.
Ambassador Albugamy highlighted the deep-rooted relationship between the two countries, based on shared faith, history, mutual trust and respect. He emphasised that enhanced business-to-business cooperation could strengthen people-to-people relations and create new opportunities for mutually beneficial economic growth. Senator Aurangzeb briefed the Ambassador on Pakistan’s progress in restoring macroeconomic stability, including improvements in foreign exchange reserves and inflation, as well as recent upgrades by international credit-rating agencies. He also highlighted Pakistan’s return to international capital markets through a US$3 billion Eurobond issuance and its access to China’s capital market, stressing the importance of sustaining economic gains and boosting investor confidence. Both sides explored investment opportunities in agriculture, minerals and mining, and other sectors with significant growth potential. They emphasised the importance of translating shared economic priorities into concrete initiatives and strengthening private-sector engagement to promote sustainable growth.
The meeting also featured an exchange of views on the prevailing regional situation and ongoing conflict, with both sides underscoring the importance of peace, stability and continued cooperation to address emerging challenges and protect regional economic prospects. The Finance Minister highlighted Pakistan’s strategic geographical location and its potential to serve as a regional trade and transit hub, facilitating connectivity and opening new avenues for economic cooperation. He reiterated the government’s commitment to structural reforms and maintaining a stable and predictable investment environment to attract domestic and foreign investors. The meeting concluded with a reaffirmation of Pakistan and Saudi Arabia’s commitment to further strengthening their strategic partnership, expanding trade and investment, and advancing shared economic priorities through continued engagement and practical cooperation.