- There are a number of opportunities for the two countries to work together: Finance Minister
ALULA/ISLAMABAD: Finance Minister Muhammad Aurangzeb on Sunday highlighted the country’s potential to export skilled labour to Saudi Arabia in alignment with the Kingdom’s Vision 2030 development framework.
Speaking on the sidelines of the Emerging Market Economies Conference in AlUla, Aurangzeb emphasized the growing opportunities for Pakistan to support Saudi Arabia’s economic transformation.
“We do think there is big potential in terms of exports from Pakistan, especially with respect to skilled labour, in terms of everything that Saudi Arabia requires in terms of executing Vision 2030,” he said, adding, “So, there are a number of opportunities for the two countries to work together.”
Saudi Arabia’s Vision 2030 aims to reduce the Kingdom’s reliance on oil and boost sectors such as health, education, infrastructure, recreation, and tourism. The initiative has created an increasing demand for skilled workers, which Pakistan hopes to meet.
With over two million Pakistanis already working in Saudi Arabia, the country remains a major source of remittances for Islamabad. While most Pakistani workers in the Kingdom are employed in blue-collar jobs, demand for skilled labour is expected to rise as Saudi Arabia modernises its economy.
Pakistan’s Education and Professional Training Ministry has been working on a new education policy to train at least a million young people annually with technical skills suited for employment in the Gulf region, including Saudi Arabia.
Additionally, the Saudi Fund for Development (SFD) has proposed a partnership with the Pakistani government to provide training programmes to equip Pakistani youth with “modern and relevant skills” required by the Saudi job market, according to Prime Minister Shehbaz Sharif’s office.
Pakistan, KSA vow to further strengthen economic ties
Earlier, FinMin Muhammad Aurangzeb and his Saudi Arabia vowed to further strengthen economic ties for a shared future.
During a high-level meeting between Finance Minister Aurangzeb and his Saudi counterpart Mohammed bin Abdullah Al-Jadaan on the sidelines of the Emerging Markets Conference, they underscored the shared commitment to build bridges of economic cooperation and advance mutual prosperity.
The discussions highlighted opportunities for enhancing bilateral trade, investments, and financial collaboration, with both ministers expressing their dedication to unlocking the full potential of their countries’ strategic partnership.
The ministers explored avenues for collaboration in key sectors, including infrastructure, energy, technology, and finance.
Both sides emphasized the importance of continued dialogue and joint initiatives to facilitate investment flows and economic opportunities that would benefit not only the two nations but also the broader region.
The meeting further reinforced the longstanding friendship and strategic partnership between Saudi Arabia and Pakistan, setting the stage for increased economic cooperation and collaboration in the years to come.
