Islamabad: The Minister of Finance, Senator Muhammad Aurangzeb, underlined the potential for stimulating exports to Saudi Arabia on Monday, in particular in the qualified work sector.
In an interview Arab news During the Alula conference for emerging market economies, the Minister of Finance noted that this aligns with the expansion of Riyadh expanding as it progresses to its ambitious Vision 2030 objectives.
“The influence of Saudi Arabia in regional economic transformation is developing, Pakistan recognizing the progress of the kingdom under the 2030 vision as a precious model,” he added.
The Minister of Finance stressed that the leadership of the kingdom in economic reforms offers important lessons for Pakistan as it embarks on its own structural changes.
“Pakistan and Saudi Arabia have been long -standing partners, one of the strongest partnerships we have,” added to therangzeb.
“While we go through our own structural reforms at this stage, on the back of the macroeconomic stability that we have achieved, there is a lot to learn from Vision 2030,” said the minister.
He also said that the kingdom was ahead of his target of the 2030 vision, “so there is so much to learn in Pakistan from our partners in Saudi Arabia”.
The Minister of Finance also underlined the growing Saudi investments in Pakistan, in particular in the business sector to companies.
He underlined recent developments such as the Incursion of Aramco Saudi in the downstream oil industry and current discussions concerning government agreements to government (G2G).
“We have already had some investments from Saudi Arabia in the business space to the company (B2B), then of course, we have just seen Aramco downstream, so they are all very, very good investments”, Aurangzeb says.
“There are a number of G2G transactions that are underway at this stage to be announced later in the year,” he added.
“Meanwhile, we remain grateful for the support we have received from Saudi Arabia, in particular with regard to our IMF program,” he added and noted that the conference serves as a large multilateral platform To discuss economic resilience and cooperation between emerging economies.