Islamabad: In a significant development for Pakistan-Saudi Arabia relations, Minister for Investment of the Kingdom of Saudi Arabia, H.E. Khalid bin AbdulAziz Al Falih, met with Prime Minister Muhammad Shehbaz Sharif, heralding a new era of strengthened investment ties and mutual cooperation. The meeting underscored a deepening relationship, marked by a series of strategic dialogues and agreements aimed at enhancing economic partnerships between the two nations.
According to Press Information Department, Prime Minister Sharif warmly welcomed Minister Al Falih and his delegation, expressing gratitude for Saudi Arabia’s consistent support through challenging times. The visit, which coincides with the Minister receiving the prestigious Hilal-e-Pakistan award, is seen as a milestone in bolstering the investment landscape between the two countries. This encounter follows productive discussions at the recent Pakistan-Saudi Business Forum, which laid the groundwork for substantial new investments and reaffirmed Saudi Arabia’s commitment to expanding economic cooperation with Pakistan.
During their meeting, Prime Minister Sharif highlighted the historical and brotherly ties that have long defined the relationship between Pakistan and Saudi Arabia, and he reiterated Pakistan’s unwavering support for Saudi sovereignty and territorial integrity. This commitment extends to bolstering defense ties and supporting Saudi Arabia’s Vision 2030, which aims to develop indigenous defense and security capabilities.
The discussions also touched on the significant role of the Pakistani diaspora in the economic development of both countries, with Prime Minister Sharif committing to enhance consular services to better support their welfare. Additionally, the Prime Minister invited Saudi Arabia to participate in Pakistan’s privatization program, specifically targeting the aviation sector and the outsourcing of international airports.
Minister Al Falih, on his part, reiterated Saudi Arabia’s intention to increase its investment portfolio in Pakistan, focusing on sectors such as mining, agriculture, food security, and infrastructure. The signing of 27 Memorandums of Understanding (MoUs) during this visit symbolizes the commencement of an ambitious journey to deepen bilateral economic activities.
The meeting, which was also attended by Deputy Prime Minister and Minister for Foreign Affairs Ishaq Dar, Chief of the Army Staff General Asim Munir, and other federal ministers, reflects a concerted effort by both countries to foster a dynamic partnership that promises mutual benefits in the years ahead.