PAKISTAN, SAUDI ARABIA RESOLVE TO FURTHER STRENGTHEN ECONOMIC TIES

PM STRESSES TO EXPEDITE FIRST PHASE OF SAUDI INVESTMENTS IN PAKISTAN SAUDI FM CONVEYS COMMITMENT TO ENHANCE STRATEGIC, ECONOMIC PARTNERSHIP

PAKISTAN and the Kingdom of Saudi Arabia (KSA) on Tuesday reiterated their resolve to build a strong partnership and further promote economic cooperation for the mutual benefit of the two countries.

This was discussed during a meeting between Prime Minister Muhammad Shehbaz Sharif and Saudi Foreign Minister Prince Faisal bin Farhan Al Saud, who called on him, at Prime Minister House, according to a PMO press release.

Recalling his warm and productive meeting with the Saudi crown prince, the prime minister said that the Saudi delegation’s visit after his trip was a manifestation of the strong commitment of both countries to the strengthening of bilateral relations focused on mutually beneficial economic cooperation.

In this regard, he said that both sides needed to work closely to expedite the first phase of Saudi investments in Pakistan under the new arrangement.

The premier informed the delegation about the Special Investment Facilitation Council (SIFC) and its initiatives to promote investment in Pakistan.

The Saudi foreign minister also conveyed the Kingdom’s commitment to an enhanced strategic and economic partnership with Pakistan. The escalating situation in the occupied Palestinian Territories was also discussed.

Earlier, the Saudi Foreign Minister Prince Faisal also called on President Asif Ali Zardari at Aiwan-e-sadr. Welcoming the delegation, President Zardari said that both countries enjoyed a long-standing and decades-old relationship and Pakistan wanted to transform the existing ties into a long-term strategic and economic partnership.

The president lauded the visionary leadership of Crown Prince Muhammad Bin Salman and the remarkable progress being made under Vision 2030. He also thanked the leadership of Saudi Arabia for its support to Pakistan in difficult times. The Saudi Foreign Minister said that KSA considered its relations with Pakistan very critical and was committed to building a strong partnership with Pakistan. He highlighted that both countries enjoyed strong bonds and had helped each other for decades. He appreciated the contributions of the Pakistani diaspora in the development of KSA.

Foreign Minister Mohammad Ishaq Dar and his Saudi counterpart Prince Faisal bin Farhan Al Saud discussed the potential for extensive commercial, trade, and investment cooperation in multiple domains for the mutual benefit of the two countries.

Commending the upward trajectory of relations with the Kingdom, Dar reaffirmed Pakistan’s longstanding commitment to further strengthen bilateral economic and security cooperation.

He underlined the tremendous investment opportunities offered by Pakistan and the central role of the Special Investment Facilitation Council (SIFC) in this regard.