Islamabad, In a significant development heralding stronger economic ties between Pakistan and Saudi Arabia, Prime Minister Shehbaz Sharif announced that the bilateral trade and investment relationships have entered a “new era.” This announcement was made during his meeting with Saudi Commerce Minister Majid al Kasabi in Riyadh, on the sidelines of the World Economic Forum meeting.

According to Ministry of Information and Broadcasting, Prime Minister Sharif highlighted the proactive role of Pakistan’s Special Investment Facilitation Council in attracting and facilitating foreign investment, which is expected to significantly boost trade volumes between the two nations.

The Saudi Commerce Minister expressed that Pakistan is a priority country for Saudi investment and trade, aligning with directives from Saudi Crown Prince and Prime Minister Muhammad bin Salman. He outlined plans to enhance economic and trade relations over the next one to one and a half years, including setting precise targets to measure progress.

Furthermore, Minister al Kasabi disclosed plans for a forthcoming visit to Pakistan by a delegation of Saudi business leaders, aimed at exploring direct investment opportunities and reinforcing economic bonds.

The discussion also touched on the deep-rooted connections between the two countries, underscored by the significant contributions of Pakistanis to Saudi Arabia’s development and prosperity. The Saudi Minister emphasized the importance of fostering the Saudi-Pak friendship among the youth and future generations of both nations, suggesting a long-term commitment to mutual development and cooperation.