Pakistan, Nov. 9 -- Pakistan and Saudi Arabia have launched a joint investment fund to strengthen trade and expand private sector cooperation between the two countries. The Saudi-Pakistan Joint Business Council announced the private equity fund on Monday as part of efforts to deepen economic ties. The council said the fund would initially reach a value of several hundred million dollars. It also expects the amount to grow as new investment opportunities emerge across different sectors.

According to the council, 75% of the fund will support projects in Pakistan. The remaining 25% will go towards investment opportunities in Saudi Arabia. The initiative aims to encourage businesses and private investors from both countries to explore new co...