PM Shehbaz to attend special WEF meeting in Riyadh today

Premier will meet Emir Kuwait, MD IMF and other world leaders on sidelines

Prime Minister Shehbaz Sharif will participate in a special meeting of the World Economic Forum (WEF) on “Global Collaboration, Growth, and Energy for Development” in Riyadh on Sunday (today).

The prime minister was invited to attend the WEF meeting by Crown Prince and Prime Minister of the Kingdom of Saudi Arabia Mohammed bin Salman bin Abdulaziz Al Saud and WEF Founder and Executive Chairman Professor Klaus Schwab.

Shehbaz will present Pakistan's position regarding global health, information technology, inclusive growth, financial technologies, regional cooperation and the balanced use of energy in the context of global development.

Meeting with IDB president

During his meeting with the president of the Islamic Development Bank (IDB), the premier was assured that the bank would complete its pending development projects in Pakistan at the earliest.

The meeting also reviewed progress on ongoing projects and deliberated upon opportunities for future cooperation between Pakistan and the IDB.

PM Shehbaz thanked the bank for its investments in Pakistan and appreciated its assistance in rehabilitation after the 2022 floods.

He said the IDB’s fruitful partnership with Pakistan is instrumental in helping to achieve the government's sustainable development goals along with providing support for reconstruction and employment.   

The premier highlighted that the SIFC is fully functional to channel foreign investment in the country, addressing all concerns of foreign investors and providing a one-window operation.

The IDB president said Pakistan is an important member of the bank and is blessed with rich natural and water resources. He stated that Pakistan's large manpower is an asset to be utilized optimally.

During his visit, the PM will also meet Emir of Kuwait Mashal Al Ahmed Al Jabr, co-chairman of the Bill & Melinda Gates Foundation, and the managing director of the International Monetary Fund (IMF).

He is also expected to meet the Saudi finance minister, world leaders and heads of international organisations during the visit. The talks will focus on trade and investment measures, new investment frameworks, restructuring of supply chains, sustainable growth, and the energy landscape.

Read Riyadh summit: PM condemns brutal Israeli aggression in Gaza

In a post on social media platform X, the prime minister said he looks forward to important discussions on 'pressing challenges' during the special meeting of the World Economic Forum.

About 1,000 leaders from business, government, and academia will participate in the Special Meeting on Global Collaboration, Growth, and Energy for Development, the WEF said in a statement.

Palestinian President Mahmoud Abbas and several international officials will also hold talks in Riyadh this week on the sidelines of a WEF meeting, aimed at pushing for a peace agreement in Gaza.

US Secretary of State Antony Blinken will attend the meetings alongside regional leaders including Qatar's prime minister, Saudi Arabia's foreign minister, Oman's crown prince and Bahraini officials.

This is Shehbaz’s second trip to Saudi Arabia as premier this month.

Earlier in April, he met with the Saudi crown prince and discussed bilateral relations and matters of mutual interest.

A week later, a high-level Saudi delegation, led by Foreign Minister Prince Faisal bin Farhan Al Saud, arrived in Pakistan as part of efforts by Pakistan to attract investment from Riyadh.

The Foriegn Office (FO) stated that the visit took place essentially to expedite the follow-up on the understanding reached between the prime minister and the Saudi crown prince during their recent meeting in Makkah.