Pakistan, Saudi Arabia and Uzbekistan sign agreement to promote trade, investment

Pakistan, Saudi Arabia and Uzbekistan have signed a partnership deal to enhance economic cooperation between the three countries and create opportunities for investors in the region.

Under the terms of the deal, Uzbekistan’s largest investment bank Ansher Capital will collaborate with Pakistani stock and commodity brokerage firm KASB Securities to offer financial assistance and corporate finance services to investors of the three countries, according to reports.

Ansher is the largest investment bank in Uzbekistan and KASB KTrade is a pioneer in Pakistan’s capital markets with active coverage of the Saudi market.

Ansher Capital and KASB will support traders and investors and traders of the partner countries by providing expert guidance on navigating financial markets, the state media said. Together, the two firms aim to unlock new investment avenues, offer innovative financial solutions, and drive economic growth.

Pakistan state media PTV described the partnership between Pakistan, Saudi Arabia and Uzbekistan as “a significant development” aimed at promoting investment and trade between the three countries.

“The partnership is expected to expand the market and attract foreign investment, particularly in key sectors such as energy, infrastructure, and agriculture.”

The partnership deal is also anticipated to strengthen trade ties between Pakistan, Saudi Arabia and Uzbekistan, with a focus on boosting trade volumes and encouraging economic integration.

“The partnership will enable businesses to tap into new markets and access new investment opportunities, creating jobs and driving economic growth.”

Ali Farid Khwaja, Chairman of KTrade Securities, expressed excitement about the partnership with the Ansher Group of Companies, highlighting their longstanding relationship and shared commitment to facilitating cross-border investments.

“Uzbekistan is going through a very exciting time, where government reforms, privatization and opening up of the economy to foreign investment, will not only drive the economy but also create very attractive opportunities for investors in the region,” Ali Farid Khwaja said in a statement.

“We are very excited about this partnership with Ansher which is the leader in investment banking and providing financial services for helping global investors enter the Uzbek market,” he added.

Ansher Capital’s CEO, Abboskhon Rasulev, expressed optimism about the strategic partnership with KTrade Securities, seeing it as a vital step towards expanding international market opportunities. They aim to combine resources to benefit clients and extend their global reach.

Uzbekistan is undergoing a significant economic overhaul driven by governmental reforms, privatization initiatives, and a growing receptiveness to foreign investment. These transformations are anticipated to stimulate the region’s economy and unveil promising opportunities for investors.

Meanwhile, Pakistan and Saudi Arabia maintain robust trade, defense, and cultural relations. With over 2.7 million Pakistani expatriates residing and serving in the Kingdom, Saudi Arabia stands as the top destination for remittances to cash-strapped Pakistan.

Sana Jamal
Storyteller. Avid Reader. Learner to the core.

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