Pak-Saudi economic ties have entered 'new era', says PM Shehbaz

ISLAMABAD:

Prime Minister Shehbaz Sharif said on Monday that Pak-Saudi economic ties had entered a "new era" with the trade volume between the two countries poised to significantly increase.

During the meeting with the Saudi Minister for Commerce Majid al Kasabi on the sidelines of the World Economy Forum's (WEF) special meeting in Riyadh, the Saudi minister said "Pakistan is Saudi Arabia's priority for investment and trade as per the directives of Saudi Crown Prince Mohammed bin Salman".

The Saudi minister also outlined plans to elevate bilateral economic and trade relations within the next year or so and maintained that ambitious targets for growth have been set.

During the exchange, the premier underscored the active role played by the Special Investment Facilitation Council (SIFC) in promoting foreign investment and facilitating investors.

On the occasion, Kasabi announced an imminent visit by a delegation from the Saudi business community to Pakistan and acknowledged the vital contributions of Pakistani expatriates to the development and prosperity of the kingdom.

Shehbaz meets Bill Gates

The premier also met the Founder and Co-chair of the Bill & Melinda Gates Foundation (BMGF) Bill Gates on the sidelines of the forum's special meeting and underlined Pakistan's commitment to eradicating polio in the country.

The premier expressed gratitude for the foundation's steadfast support in the fight against polio and underscored the pivotal role of the foundation as a trusted ally in Pakistan's socio-economic advancement. Shebal expressed eagerness for expanded collaboration in areas such as IT, science education, and disaster management.

During the discussion, Gates commended the immunization and anti-polio initiatives spearheaded by Shehbaz during his tenure as chief minister of Punjab.

He emphasized the importance of replicating successful practices nationwide to ensure the effectiveness of immunization programs.

The co-chair also affirmed that polio eradication is essential to safeguard future generations from the debilitating effects of the disease.

Read PM arrives in Riyadh for special WEF meeting

In addition to polio eradication efforts, the premier and Gates deliberated on the progress of ongoing initiatives between Pakistan and the BMGF - focusing on areas such as immunization, nutrition, and financial inclusion.

In the concluding moments of the exchange, PM Shehbaz invited Gates to Pakistan.

PM Shehbaz landed in KSA on Saturday to attend the WEF special meeting on Global Collaboration, Growth and Energy being held from April 28 to 29

The diplomatic talks focus on trade and investment measures, new investment frameworks, restructuring of supply chains, sustainable growth, and the energy landscape.

A day earlier on April 28, on the first day of the talks, the leadership and investors of the KSA expressed to PM Shehbaz their commitment to the development and progress of Pakistan and highlighted their alignment with his vision while praising his leadership as 'exemplary'.