Pakistan, Saudi Arabia, and Uzbekistan formalized a partnership agreement aimed at boosting economic integration and creating avenues for investment within the region. Under the new agreement, Ansher Capital, Uzbekistan’s premier bank, will collaborate with KASB Securities Limited, a prominent Pakistani brokerage firm, to deliver financial advisory and corporate finance services in Pakistan, Uzbekistan, and Saudi Arabia. This initiative is designed to assist investors and traders across the three countries by providing expert guidance on navigating financial markets effectively.
The partnership is poised to widen market access and attract foreign investment, with a particular focus on crucial sectors such as energy, infrastructure, and agriculture. This is anticipated to enhance trade volumes and promote economic integration among the participating countries.
The relationship between Pakistan and Saudi Arabia has been robust, encompassing trade, defence, and cultural connections. The Kingdom remains a pivotal destination for Pakistani expatriates, with over 2.7 mn residing in Saudi Arabia, and it stands as the primary source of remittances for Pakistan.
The arrival of Saudi Foreign Minister Prince Faisal bin Farhan in Pakistan last week for a two-day visit underscores the ongoing efforts to fortify bilateral economic ties and advance investment deals. During his visit, Pakistan introduced potential investment projects valued at $30 bn to Riyadh.
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