BANGKOK: Pakistan and the Saudi Fund for Development have discussed expanding trade, investment and development cooperation, including potential new projects and upgrades to oil refineries, during a meeting on the sidelines of the World Bank and IMF Annual Meetings 2026.
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb met Saudi Fund for Development Chief Executive Officer Sultan Abdulrahman Al-Marshad in Bangkok on Tuesday.
During the meeting, Aurangzeb briefed the SFD chief on Pakistan’s improving economic outlook and the country’s return to international capital markets.
The two sides reviewed opportunities to increase bilateral trade and investment and strengthen private-sector participation in economic cooperation between Pakistan and Saudi Arabia.
They also discussed progress on a bilateral investment protection agreement, which is expected to provide a stronger framework for investors from both countries.
Potential cooperation in upgrading Pakistan’s oil refineries was also reviewed as part of broader discussions on investment and development priorities.
Aurangzeb thanked Saudi Arabia for its longstanding support to Pakistan and expressed condolences over the loss of lives in recent incidents in the Kingdom.
The meeting also reviewed the progress of projects currently being implemented in Pakistan with financing and support from the Saudi Fund for Development.
Both sides expressed satisfaction with the progress of ongoing initiatives and stressed the need to develop a comprehensive pipeline of new projects for future cooperation.
Al-Marshad reaffirmed the Saudi Fund for Development’s commitment to continuing support for Pakistan within the scope of the fund’s mandate.
The talks came as Pakistan seeks to attract greater foreign investment, deepen economic ties with key partners and broaden financing for infrastructure and development projects.