KARACHI: Pakistan and Saudi Arabia have signed two memorandums of understanding (MoUs) aimed at promoting collaboration in information technology and sports, marking a step forward in bilateral engagement focused on youth development and technological cooperation.

The Letters of Intent (LoIs) were signed at a ceremony held at the Governor House late Friday night in the presence of Saudi-Pakistan Joint Business Council (SPJBC) Chairman Prince Mansour bin Mohammad bin Saad Al Saud and Sindh Governor Kamran Khan Tessori.

Saudi Ambassador Nawaf Saeed Al-Malki, Consul General Mohammed Abdullah Al-Subaie and Pakistan’s Ambassador to Saudi Arabia Ahmed Farooq also attended the event.

Under the MoUs, both countries agreed to collaborate on IT education, youth exchange programmes, joint training initiatives and sporting events to promote skills development and people-to-people connections.

KCCI urges Saudi investment in petrochemicals and agriculture

Speaking at the ceremony, Governor Tessori described Pak-Saudi relations as historically rooted in public goodwill, adding that partnerships in technology and sports would help develop youth potential while strengthening bilateral ties.

He announced that a friendly cricket match between the two countries would be organised soon to deepen cultural and social linkages.

Highlighting the global achievements of Pakistani youth, Mr Tessori said the provision of modern education, skills training and technological access remains a government priority. He called education, innovation and sports “critical pillars” of a sustainable and prosperous future.

Saudi team meets KCCI leadership

Prince Mansour also held a meeting with the leadership of the Karachi Chamber of Commerce and Industry (KCCI) to explore avenues for bilateral trade and investment.

The KCCI delegation, led by Chairman of Businessmen Group Zubair Motiwala and Vice Chairmen Anjum Nisar, Jawed Bilwani and Mian Abrar Ahmed, discussed sectoral opportunities in petrochemicals, downstream manufacturing, agriculture, IT and academic collaboration.

KCCI leadership stressed the urgent need for a domestic naphtha cracker facility — a foundational project for petrochemical value chains — to reduce reliance on imported polymers and raw materials. They argued that such a project could generate skilled jobs and boost competitiveness across key industrial sectors such as textiles, packaging, plastics and chemicals.

Publicly available industry estimates place the capital requirement for a naphtha cracker project in the multi-billion-dollar range. KCCI urged Saudi investors to consider viable financing models and long-term joint ventures to realise this goal.

The KCCI team called for detailed feasibility studies and the development of enabling infrastructure — including secure feedstock supply, port access and logistics — as well as fiscal incentives and regulatory clarity to attract anchor investors and foreign capital.

Beyond petrochemicals, opportunities were highlighted in value-added textiles, agribusiness, food processing and livestock development. KCCI noted that such investments would directly benefit small farmers, raise rural incomes and support export growth.

The delegation also proposed cooperation in information technology, including partnerships between Saudi industrial entities and Pakistani universities to support workforce development, R&D and technology transfer.

Exploring broad economic ties

Prince Mansour expressed keen interest in Pakistan’s potential and reiterated Saudi Arabia’s commitment to expanding economic cooperation, especially in energy, manufacturing, agriculture, and digital sectors.

He appreciated Governor Tessori’s initiatives on youth empowerment and acknowledged the talent and resilience of Pakistan’s young population.

The Saudi delegation’s discussions with KCCI reflected growing interest from Riyadh in strategic economic partnerships under Vision 2030, particularly as Pakistan looks to deepen ties with Gulf economies to attract investment and industrial collaboration.

The signing of the MoUs and the Saudi business delegation’s engagement with KCCI signal renewed momentum in Pakistan-Saudi bilateral economic ties, with a shared focus on youth development, industrialisation and technological collaboration. Stakeholders on both sides emphasised the need for structured partnerships, transparency in project development, and sustained dialogue to convert opportunities into tangible outcomes.

Published in Dawn, October 12th, 2025