Pakistan and Saudi Arabia discussed expanding economic cooperation in agriculture, minerals and mining, and other sectors with investment potential, according to a statement issued by the Ministry of Finance on Thursday.

The discussions took place during a meeting between Finance Minister Muhammad Aurangzeb and Saudi Ambassador to Pakistan Dr Rajeh Tami Albugamy, who called on the minister for a courtesy visit, the ministry said in a post on X.

The two sides emphasised the need to translate shared priorities into tangible outcomes and strengthen commercial engagement between the two countries.

Aurangzeb reaffirmed the longstanding friendship between Pakistan and Saudi Arabia and appreciated Riyadh’s continued support for Islamabad. He stressed the importance of further strengthening economic ties between the two countries.

The finance minister also highlighted Pakistan’s progress towards restoring macroeconomic stability, citing improvements in foreign exchange reserves and inflation, as well as recent upgrades by international credit-rating agencies.

He referred to Pakistan’s return to international capital markets through a $3 billion Eurobond issuance and its access to China’s capital market. He emphasised the need to build on recent economic gains, strengthen investor confidence and promote sustainable, investment-led growth.

Aurangzeb reiterated the government’s commitment to structural reforms and maintaining a stable and predictable investment environment to encourage domestic and foreign investment.

The Saudi ambassador underscored the historic relationship between the two countries, describing it as “rooted in shared faith, history, mutual trust and respect”. He said stronger business-to-business engagement could deepen people-to-people connections and create mutually beneficial economic opportunities.

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The two sides also discussed Pakistan’s strategic geographic location and its potential to serve as a regional trade and transit hub, facilitating connectivity and creating opportunities for broader economic cooperation, according to the ministry.

They exchanged views on the prevailing regional situation and the ongoing conflict, stressing the importance of peace, stability and continued cooperation in addressing emerging challenges and safeguarding regional economic prospects.

The meeting reaffirmed the two countries’ commitment to strengthening their strategic partnership and expanding cooperation in trade and investment. Both sides emphasised the importance of continued engagement to advance their shared economic priorities.

Pakistan has been seeking to attract greater Saudi investment across key sectors.

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In February, a delegation from Saudi Arabia’s Kyan presented investment proposals covering energy, mining, information technology, agriculture and livestock, with individual projects estimated to require at least $200 million.

Then in June, Pakistan renewed its efforts to secure Saudi investment in a proposed $10 billion oil refinery at Gwadar, along with port terminals and petrochemical projects. According to The Express Tribune, Saudi Arabia offered to acquire a 15% stake in the Reko Diq copper and gold project, while identifying policy inconsistency and bureaucratic hurdles as obstacles to attracting foreign investment,

A month later in July, Saudi-based Falcon Vision Group expressed interest in investing up to $10 billion in Pakistan, with potential opportunities spanning infrastructure, technology, construction and other industries.

The latest discussions come as Islamabad seeks to translate longstanding ties with Riyadh into concrete investment and commercial partnerships. Cooperation in agriculture, minerals and mining, alongside efforts to maintain a predictable investment environment, remains central to Pakistan’s drive to attract Saudi capital and support sustainable economic growth.