"Saudi Minister for Energy will soon visit Pakistan to sign MoU on establishing an oil refinery in Pakistan, apart from finalising other major projects in which Saudi Arabia has shown interest," Malkiy informed the president.
He also highlighted different areas of economy where Saudi investors can invest, and stressed that "there is a need for exchange of more business delegations between the two countries".
Alvi said that the Saudi envoy could play a critical role in increasing the bilateral trade.
The Saudi ambassador also briefed the president on two recent visits of Prime Minister Imran Khan to Saudi Arabia and said that they have been very successful, resulting in enhanced and multi-faceted bilateral economic cooperation.
Saudi Arabia last month announced to provide cash-strapped Pakistan USD 3 billion in balance of payment support and additionally give oil worth USD 3 billion on deferred payment after Prime Minister Khan met Saudi King Salman in Riyadh.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)