Pakistan Eyes Export Expansion To KSA Under Its Vision 2030

ISLAMABAD, (UrduPoint / Pakistan Point News - 17th Feb, 2025) Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb on Monday underscored the potential for boosting exports from Pakistan to Saudi Arabia, especially in the skilled labor sector as the Kingdom's ambitious Vision 2030 objectives drive up demand for skilled workers.

In an interview with Arab news during the AlUla Conference for Emerging Market Economies, the minister noted that this aligns with the Kingdom’s expanding workforce needs as it progresses toward its Vision 2030 objectives.

The minister said, Saudi Arabia’s influence in regional economic transformation is expanding, with Pakistan acknowledging the Kingdom’s progress under Vision 2030 as a valuable model.

He emphasized that Saudi Arabia’s leadership in economic reforms offers important lessons for Pakistan as it embarks on its own structural changes.

“Pakistan and the Kingdom of Saudi Arabia have been long-standing partners, one of the strongest partnerships that we have,” Aurangzeb said.

“As we go through our own structural reforms at this point in time, on the back of the macroeconomic stability that we have achieved, there’s a lot to learn from Vision 2030,” the minister said.

He also stated that the Kingdom is well ahead of its targets of Vision 2030, “so there’s so much to learn in Pakistan from our partners in Saudi Arabia.”

The finance minister also highlighted the growing Saudi investments in Pakistan, particularly in the business-to-business sector.

He pointed to recent developments such as Saudi Aramco’s foray into the downstream petroleum industry and ongoing talks concerning government-to-government agreements.

“We’ve already had a few investments coming through from Saudi Arabia in the business to Business (B2B) space, and then of course, we have just seen Aramco coming into downstream, so these are all very, very good investments,” Aurangzeb said.

“There are a number of G2G transactions which are underway at this point in time to be announced later in the year,” he added.

“Meanwhile, we remain grateful for the support that we have received from Saudi Arabia, especially with respect to our IMF program,” he added and noted that the conference serves as an important multilateral platform to discuss economic resilience and cooperation among emerging economies.

Meanwhile, the minister participated in a group discussion with the Finance, Economic, and Development Ministers of the UAE, Egypt, Jordan, Morocco, and other GCC countries on the sidelines of the Emerging Markets Conference 2025 in AlUla, Saudi Arabia.

The discussion focused on regional economic cooperation, financial policies, and development strategies, with participating countries exchanging views on shared economic goals and sustainable growth opportunities.