Pakistan, Nov. 10 -- A joint council of Saudi Arabian and Pakistani investors launched a private equity fund on Monday as part of the countries' wider push to deepen two-way private sector trade and investment.

The Saudi-Pakistan Joint Business Council, formed by the governments of both countries, said the fund's initial size is "multi-hundred million", which is expected to expand based on opportunities across sectors.

In a statement, it said three-quarters of the fund will be invested in Pakistan, while the rest will go to Saudi Arabian projects.

Islamabad and Riyadh share robust bilateral cooperation, with frequent high-level diplomatic exchanges on both sides.

In August this year, the council's chairman, Prince Mansour bin Mohammad...