Pakistan’s Finance Minister Muhammad Aurangzeb and Saudi Arabia’s Finance Minister Mohammed bin Abdullah Al-Jadaan met on January 22, 2025, during the World Economic Forum (WEF) in Davos, Switzerland. The two leaders agreed to further enhance economic and financial ties between their nations, according to Pakistani state media.
The meeting, held on the sidelines of the WEF summit-themed “Collaboration for the Intelligent Age,” focused on Pakistan’s economic reforms, fiscal discipline, and regulatory improvements. Minister Aurangzeb highlighted how these changes have created a favorable investment climate in Pakistan.
Both sides reaffirmed their commitment to deepening cooperation for mutual economic growth. Pakistan and Saudi Arabia have a history of strong regional ties and economic collaboration, including the signing of 34 agreements worth $2.8 billion in October 2024. Saudi Arabia, which is home to over 2.7 million Pakistani expatriates, remains Pakistan’s top destination for remittances.
In a separate meeting, Minister Aurangzeb met Saeed bin Mohammed Al-Ghamdi, Chairman of the Saudi National Bank, to explore opportunities for collaboration in the banking sector. The discussions focused on financial cooperation to strengthen trade and economic relations between the two nations.
Additionally, the Saudi Export-Import Bank and Pakistan’s Bank Alfalah signed a $15 million financing agreement on the WEF sidelines, further enhancing access to Pakistani markets and boosting trade.
This renewed focus on strengthening economic ties highlights the enduring partnership between Pakistan and Saudi Arabia, built on shared interests and regional collaboration.
