Wednesday October 21, 2026

Punjab, Saudi Arabia agree on Rs500bn export target as Maryam meets new Envoy

LAHORE: Punjab Chief Minister Maryam Nawaz Sharif and newly appointed Saudi Ambassador Dr Rajeh Albugamy have discussed expanding bilateral trade, attracting Saudi investment to Punjab and strengthening cooperation in food exports, tourism and other economic sectors.

The meeting took place in Lahore on Wednesday, where Maryam Nawaz welcomed the Saudi envoy and congratulated him on assuming his diplomatic responsibilities. She also appreciated the longstanding diplomatic efforts that have contributed to strengthening relations between Pakistan and Saudi Arabia.

A key outcome of the discussions was an agreement to set an export target exceeding Rs500 billion for Punjab’s livestock, beef, poultry, mangoes, quinoa, potatoes and shrimp. The proposed target reflects the provincial government’s intention to make greater use of Punjab’s agricultural and livestock potential to meet Saudi Arabia’s growing demand for quality food products.

Maryam Nawaz said Punjab had the capacity to emerge as a dependable supplier of halal-certified food products to the Kingdom, adding that stronger economic cooperation could create new opportunities for businesses in both countries.

The chief minister also expressed gratitude to the Saudi leadership for its continued economic and financial assistance to Pakistan. She noted that Saudi Arabia remained Pakistan’s largest source of remittances, contributing approximately $9.8 billion.

Emphasising the close relationship between economic prosperity and national security, Maryam Nawaz said shared economic strength was an important guarantee of shared security. She expressed confidence that increased trade, investment and commercial engagement would further deepen the partnership between the two countries.

The two sides also discussed organising a roadshow in Riyadh to showcase Punjab’s investment opportunities and attract Saudi investors to the province. The initiative is aimed at highlighting Punjab’s economic potential and encouraging investment across sectors with prospects for bilateral growth.

Tourism was another subject of discussion, with Maryam Nawaz inviting Saudi citizens to explore Punjab’s diverse tourist destinations. She highlighted the province’s cultural heritage, historical landmarks and other attractions that could help promote people-to-people exchanges and tourism-related business opportunities.

During the meeting, the chief minister strongly condemned Houthi attacks against Saudi Arabia and expressed deep sorrow over the loss of human lives resulting from the attacks. She said assaults on Saudi cities and civilian infrastructure, including attempts to target Makkah and Madinah, were unacceptable and condemnable.

Maryam Nawaz said the Makkah Joint Defence Agreement, signed in August 2026, represented a new chapter in bilateral relations and reflected the two countries’ shared commitment to protecting their sovereignty and security.

She reaffirmed Pakistan’s support for Saudi Arabia’s right to defend its people, cities and critical infrastructure, stressing that the people of Pakistan and Punjab stood shoulder-to-shoulder with the Kingdom in safeguarding its security and territorial integrity.

The chief minister also paid tribute to the outgoing Saudi ambassador, acknowledging his contributions to strengthening diplomatic ties and promoting closer cooperation between the two countries.

For his part, Ambassador Dr Rajeh Albugamy praised the deep-rooted, fraternal and strategic relationship between Pakistan and Saudi Arabia, expressing his commitment to further strengthening bilateral cooperation across multiple sectors.

The Saudi envoy thanked the Government of Pakistan, the Pakistan Armed Forces and the Pakistani people for their support to the Kingdom, particularly in connection with efforts to protect Saudi Arabia’s security, stability and territorial integrity.

Speaking about Punjab’s cultural appeal, the ambassador said the province possessed a distinctive heritage, extending from Mughal-era monuments to its living traditions. He also praised Lahore’s renowned hospitality, cuisine and welcoming atmosphere, saying the city’s reputation extended well beyond Pakistan.

The meeting underscored the two sides’ shared interest in translating their longstanding political and diplomatic ties into stronger economic cooperation, with expanded food exports, investment promotion and tourism identified as important areas for future engagement.

The post Punjab, Saudi Arabia agree on Rs500bn export target as Maryam meets new Envoy appeared first on Karachi News.

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