Pak-Saudi ties to strengthen with new investment deals: PM

Saudi Arabia’s Minister for Investment, Khalid bin Abdulaziz al-Falih, met with Prime Minister Muhammad Shehbaz Sharif on Thursday, marking a key moment in enhancing investment ties between the two nations.

Welcoming the Saudi delegation, the prime minister hailed the visit as a significant step towards deepening bilateral collaboration. "This visit is an important milestone in strengthening investment ties between Pakistan and Saudi Arabia," said Sharif, adding that their decades-long relationship continues to grow stronger.

Sharif also extended his "warm regards" to Saudi King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman, praising their leadership in advancing Pak-Saudi relations.

The prime minister reaffirmed Pakistan’s dedication to Saudi Arabia’s "sovereignty and territorial integrity," reiterating readiness to bolster defence ties, especially in support of Saudi Vision 2030.

He also underscored the "significant role" played by the Pakistani diaspora in Saudi Arabia in the economic development of both countries, and expressed a commitment to further enhancing consular services for their welfare.

Earlier, the Saudi minister reiterated Saudi Arabia’s commitment to increasing its investment portfolio in Pakistan. This includes major sectors such as mining, agriculture, food security, and infrastructure. "The signing of 27 Memorandums of Understanding (MoUs) between the two countries is just the beginning of the journey," al-Falih stated.

"The visit of the Saudi delegation marks another chapter in the enduring friendship and strategic partnership between the two brotherly nations," Dar said, expressing gratitude to Saudi Arabia for its continued support.

Al-Falih was optimistic about Pakistan's economic outlook, praising the recent improvements as "impressive." He announced that agreements and MoUs worth over $2 billion would be signed during the visit, with further commitments of up to $5 billion in front-end investments. "These figures are just the tip of the iceberg," he said, underscoring the limitless potential for Pak-Saudi economic cooperation.

Both sides also discussed the importance of collaboration in defence, with Prime Minister Sharif reaffirming Pakistan's support for Saudi Arabia in regional and global matters. The prime minister also commended Saudi Arabia’s leadership within the Organisation of Islamic Cooperation (OIC) on critical issues such as Palestine, Kashmir, and the fight against Islamophobia.

The Saudi delegation also met with Chief of Army Staff General Syed Asim Munir in Rawalpindi. The army chief expressed his appreciation for Saudi support and reiterated the "fraternal ties" between the two nations. He assured the Saudi delegation of Pakistan’s full cooperation, expressing optimism about the promising outcomes of the visit.

As discussions continue, both countries look set to enter a new phase of economic partnership. The Saudi delegation's visit has been hailed as a significant moment in reinforcing the "brotherly" ties between Pakistan and Saudi Arabia, with both nations emphasising the importance of collaboration in sectors such as mining, infrastructure, and technology.

"Saudi Arabia holds a special place in Pakistan’s foreign policy, and we are committed to further strengthening our bilateral ties for the mutual benefit of both nations," said PM Shehbaz.