PM Shehbaz to embark on three-day visit to Riyadh
Prime Minister Shehbaz Sharif. Photo: PM office/ File
Prime Minister Shehbaz Sharif is due to depart for Riyadh tomorrow on a three-day official visit to Saudi Arabia, according to a statement released by the Foreign Office on Sunday.
The prime minister will be accompanied by a high-level delegation, including Deputy Prime Minister and Foreign Minister Ishaq Dar and senior members of the federal cabinet.
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Curtain Raiser: Prime Minister’s visit to the Kingdom of Saudi Arabia
🔗⬇️https://t.co/cyB1RKdOMG pic.twitter.com/9w13YS122RThe visit comes at the invitation of Saudi Crown Prince and Prime Minister Mohammed bin Salman.
During the visit from October 27 to 29, Shehbaz will attend the ninth edition of the Future Investment Initiative (FII 9) conference, themed "The Key to Prosperity: Unveiling the New Frontiers of Growth”. The event will bring together global leaders, investors, policymakers and experts.
Talks with the Saudi leadership are to focus on trade, investment, energy and manpower, as well as regional and international developments. "The discussions will also cover regional and global issues of mutual interest and concern."
The prime minister will also hold meetings with other world leaders and heads of international organisations, where he will highlight Pakistan’s investment potential and sustainable development initiatives.
According to the Foreign Office, the visit underscores Pakistan’s commitment to advancing economic diplomacy.
Pak-Saudi trade
Pakistan and Saudi economic relations have strengthened with mutliple MoU's signed between the two countries and the visit of high-level Saudi delegations to Pakistan this past month.
Read: Punjab unveils tax-free Saudi industrial estate to attract Gulf investment
On October 8, the prime minister hosted a luncheon at the PM House in honour of a high-level Saudi delegation on Wednesday. PM Shehbaz spoke to the guests, highlighting the strong and enduring ties between the two countries.
Shehbaz called for expanding Pakistan’s ties with Saudi Arabia beyond defence cooperation, urging a renewed focus on trade, business, and investment. He said the Kingdom was fully prepared to support Pakistan in advancing this shared economic vision.
In a major boost to Saudi-Pakistan investment relations, Prince Mansour Bin Mohammed Al Saud signed a Memorandum of Understanding (MoU) with Chishti for the acquisition of a majority shareholding in KES Power Ltd, the parent company that owns 66.4% of K-Electric, this month.
Punjab Chief Minister Maryam Nawaz Sharif stated that a memorandum of understanding (MoU) had been signed regarding the investment upon the arrival of a delegation of the Pak-Saudi Joint Business Council in Punjab.
Punjab Chief Minister Maryam Nawaz in early October announced the establishment of a tax-free Special Saudi Industrial Estate in the province to strengthen foreign investment and expand economic cooperation between Pakistan and the Kingdom of Saudi Arabia.
The announcement came during a meeting in Lahore with a high-level Saudi delegation led by Prince Mansour bin Mohammad bin Saad Al Saud, Chairperson of the Pakistan-Saudi Business Forum. The delegation was briefed on Punjab’s key development projects and governance reforms.