KSA vows long-term economic partnership with Pakistan

Saudi Arabia has reaffirmed its commitment to deepening ties with Pakistan, as both countries have agreed to a long-term economic partnership that will see Riyadh participate in various development projects, including those linked to the China-Pakistan Economic Corridor (CPEC).

According to sources, Saudi Arabia will invest in Pakistan's infrastructure, particularly in dam construction and power transmission lines. The agreement also envisages the establishment of a joint business council to strengthen collaboration between the private sectors of both nations.

The understanding was reached during a meeting between Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman in Riyadh, where discussions were held in a cordial and constructive atmosphere.

Deputy Prime Minister and Foreign Minister Ishaq Dar, Field Marshal Syed Asim Munir, Chief of Army Staff, and senior cabinet members from both countries attended the meeting. Matters of mutual interest and regional cooperation were also discussed.

Following the meeting, Prime Minister Shehbaz expressed his appreciation in a post on X (formerly Twitter), saying: "It was a great pleasure and honour to meet my brother, His Royal Highness Crown Prince Mohammed bin Salman, in Riyadh today."

He added: "We reaffirmed the enduring strength of the Pakistan-Saudi Arabia brotherly bonds and discussed ways to further expand this historic and time-tested partnership in trade, investment, and economic cooperation."

The prime minister also expressed gratitude for the Crown Prince's consistent support, saying he remained "deeply grateful for His Royal Highness's personal commitment and resolute support in advancing our shared vision for deeper collaboration and prosperity for our two nations and peoples."

Shehbaz arrived in Riyadh on Monday at the special invitation of the Crown Prince to attend the 9th Future Investment Initiative (FII) Conference. Upon arrival at King Khalid International Airport, he and his delegation were warmly received by the Deputy Governor of Riyadh, Prince Mohammed bin Abdulrahman bin Abdulaziz, Saudi Ambassador to Pakistan Nawaf bin Saeed Al-Maliki, and Pakistan's Ambassador to Saudi Arabia Ahmed Farooq.

The prime minister is accompanied by Deputy Prime Minister and Foreign Minister Ishaq Dar, Finance Minister Muhammad Aurangzeb, Information Minister Attaullah Tarar, and Special Assistants Tariq Fatemi and Bilal bin Saqib.

During his visit, Shehbaz Sharif will represent Pakistan at the high-profile FII Conference, which brings together global investors, policymakers, and corporate leaders. He is also scheduled to hold bilateral meetings with world leaders and heads of international organisations on the sidelines of the event.

(With input from APP)