The meetings took place in Bangkok on the sidelines of the World Bank and International Monetary Fund (IMF) Annual Meetings, as Pakistan sought to highlight progress on economic reforms and explore opportunities to strengthen international financial and development cooperation.
Aurangzeb’s engagements covered Pakistan’s sovereign credit rating, access to global capital markets, investment protection, mining projects, technology cooperation and the impact of regional conflicts on energy and food security.
Aurangzeb briefs World Bank president on economic reforms
The minister met World Bank President Ajay Banga during a dinner hosted by the Thailand prime minister in Bangkok on the sidelines of the World Bank and IMF Annual Meetings.
During the meeting, Aurangzeb briefed Banga on the economic reforms currently underway in Pakistan, highlighting the country’s ongoing efforts to strengthen economic stability.
The federal finance minister and the State Bank of Pakistan governor also met representatives of Fitch Ratings to discuss Pakistan’s economic performance and sovereign credit rating.
According to an official statement, the Pakistani delegation briefed the representatives on the country’s access to global capital markets, financial stability and sustained primary fiscal surpluses.
The discussions also covered inflation trends, exchange rate stability and the containment of the current account deficit. Officials highlighted an increase in foreign exchange reserves and a reduction in future debt repayment obligations.
The meeting further addressed improvements in Pakistan’s capacity to withstand external economic pressures and respond to unforeseen circumstances.
Pakistan, Canada discuss investment, trade
During his engagements in Bangkok, Aurangzeb also met Randeep Sarai, Canada’s parliamentary secretary to the minister of international development, to review opportunities for bilateral cooperation.
The discussions covered agriculture, agricultural technology (agritech), livestock and food security. Aurangzeb highlighted the progress Pakistan had made towards economic stability and stressed the importance of accelerating progress on an agreement to protect Canadian investments in Pakistan.
The two sides also discussed Barrick’s mining projects and their potential contributions to investment, exports and employment generation in Pakistan.
The meeting included an exchange of views on cooperation in IT services, artificial intelligence-related skills and virtual assets. Both sides also deliberated on ways to increase remittances to Pakistan from the Pakistani diaspora, particularly those living in Canada.
The discussions reflected the broader scope of bilateral economic cooperation, extending beyond traditional trade and investment to technology, workforce skills and financial flows from overseas Pakistanis.
Regional conflicts, food security also discussed
Aurangzeb and Sarai also reviewed Pakistan’s mediation efforts and discussed the impact of regional conflicts on energy supplies, fertiliser availability and global food security.
The talks highlighted how regional instability can affect essential supplies and economic conditions, making energy, agricultural inputs and food security important areas of international cooperation.
The meetings formed part of Pakistan’s wider diplomatic and economic engagements during the World Bank and IMF Annual Meetings in Bangkok, with a focus on economic reforms, investment, financial resilience and cooperation with international partners.
