KATMANDU: The South Asian Association for Regional Cooperation (SAARC) needed to keep striving to achieve economic, cultural and social growth in the region, Pakistani Prime Minister Shahid Khaqan Abbasi said during a visit to its secretariat in Katmandu on Tuesday.
“SAARC had immense potential for strengthening the economies of the member countries and to promote collaboration in various areas of mutual significance,” he said.
During his speech, Abbasi stressed the increased level of connectivity needed among SAARC member states for a prosperous region. “Pakistan attaches great importance to SAARC and remains committed to its principles and objectives of its charter,” he said.
Visiting Katmandu to plant a sapling of pine at the secretariat, Abbasi said that Pakistan had always strived to make SAARC a vibrant vehicle for regional cooperation based on the principle of sovereign equality.
In 2016, Pakistan was scheduled to host the 19th SAARC meeting in Islamabad. Due to strained ties with India, however, Indian Prime Minister Narendra Modi’s government did not attend the conference, citing “increasing cross-border terrorist attacks in the region and growing interference in the internal affairs of member states.”
As host of the next SAARC summit, Abbasi said: “Pakistan looks forward to convening the summit at an early date” and said that it would “play a positive role in further strengthening regional cooperation.”
He said that Pakistan had at all meetings of SAARC advanced its belief that a secure and peaceful environment in South Asia was crucial for the advancement of the region’s development and prosperity.
Amjad Hussain B Sial, SAARC secretary general, said: “Pakistan is playing an important role in SAARC and had previously hosted two summits. Holding SAARC summits meant renewing impetus among member states and was therefore significant.”
SAARC can build a prosperous region — Abbasi
SAARC can build a prosperous region — Abbasi
Pakistan’s finance chief heads to Riyadh to highlight climate funding priorities at global summit
- Muhammad Aurangzeb will join high-level talks on securing capital for climate adaptation and resilience
- The visit includes bilateral meetings with senior Saudi officials to deepen bilateral economic cooperation
ISLAMABAD: Federal Minister for Finance and Revenue Muhammad Aurangzeb left for Saudi Arabia on Wednesday to attend the Global Development Finance Conference in Riyadh, said an official statement, where he will present Islamabad’s perspective on climate adaptation and financing.
Pakistan is among the world’s most climate-vulnerable countries, grappling with recurrent floods, heatwaves and rising adaptation costs that far exceed its domestic resources.
Last month, while addressing COP30 in Brazil via video link, Aurangzeb urged reforms to global climate-finance mechanisms, arguing the Green Climate Fund was mired in “bureaucracy” and the Loss and Damage Fund had made little progress four years after its launch.
The finance division said the minister had departed for Riyadh to take part in the conference, a three-day gathering focused on new development-finance models.
“During the conference, Finance Minister Senator Muhammad Aurangzeb will participate in a high-level session on climate adaptation and resilience, where he will join global leaders in discussing how developing countries can secure the capital needed to address climate vulnerabilities,” the statement said.
“His participation will highlight Pakistan’s priorities in climate finance and the government’s efforts to strengthen economic resilience in the face of global environmental challenges,” it added.
Aurangzeb is also scheduled to hold bilateral meetings with senior Saudi officials, including leadership of the National Development Fund and the Ministry of Finance, to discuss development financing, investment opportunities and broader economic cooperation.
The statement said he will give interviews to international media outlets such as CNN and CGTN to outline Pakistan’s reform trajectory and development-finance needs.
The finance chief will additionally meet Pakistan’s diplomatic mission in Riyadh to review ongoing economic diplomacy initiatives.
The Global Development Finance Conference, organized under the patronage of Saudi Crown Prince Mohammed bin Salman, aims to bring together more than 100 speakers from over 120 international and regional organizations.
The conference is positioned as a key platform within Vision 2030 to accelerate innovative financing models and support countries seeking sustainable growth amid rising global climate and development pressures.
