ISLAMABAD: A high-powered delegation of Saudi Arabia led by its Minister for Investment Sheikh Khalid Bin Abdul Aziz Al Faleh arrived here on Wednesday on a three-day official visit.

Federal Minister for Board of Investment, Privatisation & Communications Abdul Aleem Khan, Minister for Trade Jam Kamal Khan and Minister for Petroleum Mohammad Musadik Malik along with senior officials received the Saudi Arabia`s minister at Islamabad airport.

Pakistan and Saudi Arabia will sign several trade and investment agreements and some Memorandums of Understanding (MoUs) during the Saudi minister`s stay.

The Saudi delegation will also visit Special Investment and Facilitation Council (SIFC) and discuss investment plans in various sectors.

While welcoming the guests at the Islamabad Airport, the privatisation minister said the arrival of government officials and private companies` representatives from Saudi Arabia for investment in Pakistan was a welcome step and this visit would be an important milestone in the investment sectors of the two countries.

He said the visit would also strengthen the deep-rooted ties between Saudi Arabia and Pakistan and promote mutual business activities.

The privatisation minister said that private companies of Pakistan were ready for investment and bilateral business from Saudi Arabia and preparations for the visit of Saudi officials had already been completed by the ministry of investment as well.

The federal ministers described the visit of Saudi delegation `very important`, expressing the hope that it would be result oriented.

Saudi Arabia`s investment minister will also meet President Asif Ali Zardari and Prime Minister Shehbaz Sharif during his stay in the country besides holding important meetings with the business community in Islamabad.