Saudi Arabia is the largest source of petroleum for Pakistan.[22] It also supplies extensive financial aid to Pakistan and remittance from Pakistani migrants in Saudi Arabia is also a major source of foreign currency for Pakistan.[23] In recent years, both countries have exchanged high-level delegations and developed plans to expand bilateral cooperation in trade, education, real estate, tourism, information technology, communications and agriculture.[3][25] Saudi Arabia is aiding the development of trade relations with Pakistan through the Gulf Cooperation Council, with which Pakistan is negotiating a free trade agreement; the volume of trade between Pakistan and GCC member states in 2006 stood at US$11 billion.[23][25] Financial co-operation includes $3 billion in aid and loans, of which $1.5 billion was deposited in Pakistan's central bank.[26] In 2018 Saudi Arabia agreed to establish an oil refinery at Gwadar, with a proposed capacity of 500,000 barrels per day.[27][28] In 2019, Saudi Arabia paid $20 billion to finance developmental projects in Pakistan.[29]