Davos: Pakistan and Saudi Arabia have reaffirmed their commitment to further expand their economic relations, focusing on mutual benefits. This pledge was made during a meeting between Pakistan's Finance Minister, Muhammad Aurangzeb, and his Saudi counterpart, Mohammed Aljadaan, on the sidelines of the World Economic Forum Annual Meeting 2026.

According to Radio Pakistan, the Saudi Finance Minister shared positive feedback about Pakistan's recent economic developments. In response, Muhammad Aurangzeb expressed gratitude to Saudi Arabia and its leadership for their unwavering support, emphasizing the deep-rooted and enduring relationship between the two nations. The meeting provided an opportunity for Pakistan to highlight its economic achievements and future prospects.

Senator Muhammad Aurangzeb informed his Saudi counterpart about Pakistan's key macroeconomic indicators, noting that the country's economy is on a stabilization and growth path. He pointed out the involvement of over 120,000 new investors in the capital market, indicating a resurgence of confidence in Pakistan's economic future. The Finance Minister also mentioned that interest rates are on a downward trend, while reiterating the independence of the State Bank of Pakistan in setting monetary policy.

Aurangzeb reported that Pakistan's economic growth reached 3.1 percent last year and accelerated to 3.7 percent in the first quarter of the current fiscal year. He highlighted the significant role of remittances in maintaining economic stability, with inflows expected to increase from USD 38 billion last year to over USD 41 billion this year. Additionally, he discussed the government's efforts to boost foreign direct investment, particularly in priority sectors such as minerals and mining, agriculture, and other areas with strong export potential and socioeconomic impact.