A Saudi high-level delegation, led by Minister of Investment Khalid Abdulaziz Al-Falih arrived on Wednesday in Islamabad for a three-day visit aimed at forging investment agreements with Pakistan.

The delegation was warmly welcomed upon their arrival at Nur Khan Air Base, where they were received by Federal Minister Abdul Aleem Khan, Minister of Commerce Jam Kamal, and other senior officials. The Saudi Ambassador to Pakistan, Nawaf bin Saeed Al-Maliki, was also present during the reception.

During the visit, the Saudi delegation is expected to sign up to 30 agreements, potentially injecting $2 billion into various sectors, including agriculture, information technology, construction materials, petroleum, and the power sector.

There are also plans to enhance food security and increase exports of meat and rice through additional agreements.

Furthermore, the delegation will assess progress on collaborations in mining, oil refining, and the railway sector, with expectations of over $5 billion in Saudi investments in Pakistan over the next four years. The private sector in Saudi Arabia is anticipated to invest around $1 billion in the country.

The visit has also included the scheduled business-to-business meetings with Pakistani companies and discussions on projects under the Saudi Fund for Development.

Earlier, Prime Minister Shehbaz Sharif had announced that Pakistan is set to sign agreements worth approximately $2 billion with a visiting Saudi delegation later this month.

The delegation, led by Saudi Minister for Investment Khalid Bin Abdulaziz Al-Falih, is scheduled to visit Pakistan from October 9 to 11, ahead of the Shanghai Cooperation Organisation (SCO) summit, which Pakistan will host from October 15-16.

The delegation is expected to include representatives from both government agencies and the private sector, highlighting the expansion of economic ties between Pakistan and Saudi Arabia.