Talks with Saudi Arabia will focus on trade, investment, energy, human resources, and regional and international developments.
Prime Minister Shehbaz Sharif. Photo: PM Office/Archive
Prime Minister Shehbaz Sharif will leave for Riyadh tomorrow on a three-day official visit to Saudi Arabia, according to a statement issued by the Ministry of External Affairs on Sunday.
The prime minister will be accompanied by a high-level delegation, including Deputy Prime Minister and External Affairs Minister Ishaq Dar and senior members of the federal cabinet.
The visit comes at the invitation of Saudi Crown Prince and Prime Minister Mohammed bin Salman.
During his visit from October 27 to 29, Shehbaz will attend the ninth edition of the Future Investment Initiative (FII 9) conference, themed ‘The key to prosperity: revealing the new frontiers of growth’. The event will bring together global leaders, investors, policymakers and experts.
Talks with Saudi leaders will focus on trade, investment, energy and labor, as well as regional and international developments. “Discussions will also cover regional and global issues of mutual interest and concern.”
The prime minister will also hold meetings with other world leaders and heads of international organizations, highlighting Pakistan’s investment potential and sustainable development initiatives.
According to the Ministry of Foreign Affairs, the visit underlines Pakistan’s commitment to advancing economic diplomacy.
Trade between Pakistan and Saudi Arabia
Economic relations between Pakistan and Saudi Arabia have strengthened with multiple MoUs signed between the two countries and the visit of high-level Saudi delegations to Pakistan last month.
Read: Punjab inaugurates duty-free Saudi industrial estate to attract Gulf investments
On October 8, the prime minister hosted a luncheon at Prime Minister House in honor of a high-level Saudi delegation on Wednesday. Prime Minister Shehbaz spoke to the guests and highlighted the strong and long-standing ties between the two countries.
Shehbaz called for expanding Pakistan’s ties with Saudi Arabia beyond defense cooperation, urging a renewed focus on trade, business and investment. He said the Kingdom was fully prepared to support Pakistan in advancing this shared economic vision.
In a major boost to investment relations between Saudi Arabia and Pakistan, Prince Mansour Bin Mohammed Al Saud this month signed a Memorandum of Understanding (MoU) with Chishti for the acquisition of a majority stake in KES Power Ltd, the parent company that owns 66.4% of K-Electric.
Punjab Chief Minister Maryam Nawaz Sharif stated that a memorandum of understanding (MoU) on investment had been signed on the arrival of a delegation of the Pakistan-Arabia Joint Business Council in Punjab.
Punjab Chief Minister Maryam Nawaz earlier in October announced the establishment of a special duty-free Saudi industrial estate in the province to strengthen foreign investment and expand economic cooperation between Pakistan and the Kingdom of Saudi Arabia.
The announcement came during a meeting in Lahore with a high-level Saudi delegation led by Prince Mansour bin Mohammad bin Saad Al Saud, chairman of the Pakistan-Arabia Business Forum. The delegation was briefed about major development projects and governance reforms of Punjab.
