2005 News Story

Saudi Arabia and Pakistan negotiate investment agreement

The Kingdom of Saudi Arabia and the Islamic Republic of Pakistan have agreed to negotiate two agreements on investment protection and avoidance of double taxation. At the two-day meeting of the joint ministerial commission that ended in Islamabad yesterday, Minister of Commerce and Industry Dr Hashim Yamani and his Pakistani counterpart discussed cooperation not only in trade and investment, but also in education, sports, youth and human resources; science, technology, information and culture; agriculture, health, and rail communication; and security, religion, and consular affairs.

Dr Yamani commented that the proposed agreements will enhance bilateral investment. There will be information exchanges and frequent visits, he said; seminars will be held and cooperation strengthened in technical and technological sectors.