Saudi Arabia, US ‘share a vision of a more secure, stable, and prosperous region’: joint communique

Joe Biden and Crown Prince Mohammed bin Salman held a meeting on Friday. (SPA)
Updated 16 July 2022
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Saudi Arabia, US ‘share a vision of a more secure, stable, and prosperous region’: joint communique

RIYADH: Saudi Arabia and the US affirmed that both nations share a vision for a stable and prosperous Middle East, a joint communique said, after US President Joe Biden met with Saudi leaders on Friday.

The “US-Saudi partnership has been a cornerstone of regional security over decades, and affirmed that the two countries share a vision of a more secure, stable, and prosperous region, interconnected with the world,” said the statement published by the Saudi Press Agency early on Saturday.

The document highlighted various areas of cooperation between the two allies, from energy security to space exploration. In the area of defense, Biden reaffirmed the US’ commitment to Saudi Arabia’s security and territorial defense, and “facilitating the Kingdom’s ability to obtain necessary capabilities to defend its people and territory against external threats”

The statement said that US troop will department Tiran Island paving the ways for it to be developed. Additionally, overflights of the Kingdom’s airspace was expanded on Friday, which the US welcomed.

The US praised the Vision 2030 program of Saudi Arabia, welcoming “its blueprint for transformative economic and social reforms, and its efforts to increase women’s economic participation and promote interfaith dialogue.

The two nations also outlined their commitments on issues facing various Arab and Islamic countries, including Palestine, Syria, Lebanon and Afghanistan.

Full text of the statement:

Joint Communique between the Kingdom of Saudi Arabia and the United States of America

At the invitation of the Custodian of the Two Holy Mosques, King Salman Bin Abdulaziz Al-Saud, President Joseph R. Biden conducted an official visit to the Kingdom of Saudi Arabia July 15-16, 2022. Following the meeting with the Custodian of the Two Holy Mosques King Salman Bin Abdulaziz Al-Saud, President Biden and His Royal Highness Crown Prince Mohammed bin Salman Al-Saud, Deputy Prime Minister, held an official meeting, attended by senior officials from both sides. The two sides reviewed in detail the many shared priorities that contribute to the partnership between the Kingdom of Saudi Arabia and the United States.
At the end of this meeting, the two sides issued this communique outlining the strategic partnership between the Kingdom of Saudi Arabia and the United States over the coming decades with the aim of advancing their mutual interests and advancing a common vision for a more peaceful, secure, prosperous, and stable Middle East.

Strategic Partnership
The two sides reviewed the historical relations and partnership between the Kingdom of Saudi Arabia and the United States of America that was established nearly eight decades ago with the meeting between King Abdulaziz Al-Saud and President Franklin D. Roosevelt on board the USS Quincy. They underscored the importance of continuing to strengthen their strategic partnership to serve the interests of the governments and peoples of the Kingdom of Saudi Arabia and the United States. The two sides also emphasized the pivotal role this historic partnership has played in promoting regional stability and prosperity. They stressed that the US-Saudi partnership has been a cornerstone of regional security over decades, and affirmed that the two countries share a vision of a more secure, stable, and prosperous region, interconnected with the world.
The two sides affirmed the importance of resolving international disputes through peaceful and diplomatic means, and alleviating humanitarian crises through economic and financial support to the region’s countries most in need. They affirmed the importance of the principles of sovereignty and territorial integrity. They stressed the need for supporting governments in the region facing threats from terrorists or proxy groups backed by outside powers.
The two sides noted the historic ties between the peoples of the Kingdom of Saudi Arabia and the United States. They welcomed, in this regard, extending the validity of business and tourism visas to 10 years to facilitate closer people-to-people ties and economic cooperation.
The two sides then reviewed cooperation and achievements in the following areas:

Energy Security and Climate Cooperation
The two sides underscored the importance of strategic economic and investment cooperation, particularly in light of the current crisis in Ukraine and its consequences, and reaffirmed their commitment to a stable global energy market. The US welcomed Saudi Arabia’s commitment to support global oil markets balancing for sustained economic growth. Both sides decided to consult regularly on global energy markets in the near- and long-term, as well as work together as strategic partners in climate and energy transition initiatives, recognizing Saudi Arabia’s leading role in the future of energy.
The US side commended the Saudi Green Initiative and Middle East Green Initiative, and welcomed Saudi Arabia’s participation at the recent Major Economies Forum on Energy and Climate, joining of the Global Methane Pledge, its status as a founding member of the Net-Zero Producers Forum, and the Kingdom’s announcement to meet fifty percent of its electricity generation from renewables by 2030.
The two sides welcomed the finalization of a Partnership Framework for Advancing Clean Energy, with substantial investments in clean energy transition and addressing climate change, with particular focus on renewable energy, clean hydrogen, human capacity-building in the nuclear energy field, and cooperation in nuclear-regulatory aspects, carbon capture utilization and sequestration, development of sustainable materials, and other initiatives under the Circular Carbon Economy Framework, where Saudi Arabia aims to be a global leader..

Partnership for Global Infrastructure and Investments (PGII)
The two sides emphasized that the energy transition and the national security of both countries require stable and diversified supply chains, and in this regard, the United States welcomed Saudi Arabia’s support for the Partnership for Global Infrastructure and Investment, which President Biden announced at the G7 Summit on June 26, 2022. Through this historic partnership, the United States and Saudi Arabia aim to strategically invest in projects that support digital connectivity, supply chain sustainability, and climate and energy security focused on low- and middle-income countries.

Security and Defense
President Biden strongly affirmed the United States’ continued commitment to supporting Saudi Arabia’s security and territorial defense, and facilitating the Kingdom’s ability to obtain necessary capabilities to defend its people and territory against external threats.
The two sides underscored the need to further deter Iran’s interference in the internal affairs of other countries, its support for terrorism through its armed proxies, and its efforts to destabilize the security and stability of the region. The Kingdom of Saudi Arabia and the United States stressed the importance of preventing Iran from acquiring a nuclear weapon.
Both sides stressed the importance of preserving the free flow of commerce through strategic international waterways like the Bab al-Mandab and the Strait of Hormuz. They welcomed the newly-established Combined Task Force 153 with a focus on the Red Sea’s Bab al-Mandab passageway and further deterring illicit smuggling into Yemen. They also welcomed Saudi Arabia’s assumption of command of Combined Task Force 150, which reinforces shared maritime security objectives in the Gulf of Oman and North Arabian Sea.
To improve and streamline the exchange of information in the maritime domain, cooperation between the Royal Saudi Naval Forces and Combined Task Force 153 will be enhanced in the regionally-networked coordination center led out of the US Fifth Fleet Headquarters in Bahrain. The United States also emphasized the growing cooperation between the Royal Saudi Naval Forces and US Fifth Fleet’s Task Force 59, which leads an expanding fleet of cutting edge, integrated unmanned surface vessels using artificial intelligence to improve maritime security and domain awareness in support of regional security.

5G/6G Open-RAN Cooperation
The two sides welcomed a new Memorandum of Cooperation that will connect US and Saudi technology companies in the advancement and deployment of 5G using open radio access networks, enable the development of 6G through similar technologies, and advance partnerships in cloud infrastructure and related technologies. The partnerships built under the MOU confirms Saudi Arabia’s leadership as a regional hub for 5G deployments and 6G future developments.

Cybersecurity
The two sides emphasized their mutual cooperation in the field of cybersecurity and its importance to protect the vital interests and national security of both countries. The United States and Saudi Arabia welcomed the recent signing of memoranda of understanding on cybersecurity cooperation and decided to continue strengthening real-time information sharing, building human and technical capabilities, and cybersecurity industry development.

Space Exploration
The two sides further welcomed the enhancement of cooperation in all fields of space exploration, including human spaceflight, earth observation, commercial and regulatory development, and responsible behavior in outer space. President Biden welcomed the Kingdom of Saudi Arabia signing the Artemis Accords and applauded the Kingdom for affirming its commitment to the responsible, peaceful, and sustainable exploration and use of outer space.

Development of Tiran Island
President Biden welcomed the arrangements by Saudi Arabia to remove the Multinational Force and Observers (MFO) from the Island of Tiran, including the removal of US troops there as part of the MFO mission, while preserving and continuing all existing commitments and procedures in the area. This area of the Red Sea will now be developed for tourism and economic purposes, contributing to a more secure, peaceful, and prosperous region.

Expanding Overflights
Within the framework of the Kingdom of Saudi Arabia's keenness to fulfill its obligations under the Chicago Convention of 1944, which stipulates non-discrimination between civil aircraft used in international air navigation, the Saudi General Authority for Civil Aviation (GACA) announced its decision to open the Kingdom's airspace for all air carriers that meet the requirements of GACA to fly over the Kingdom’s airspace. The United States welcomed this announcement, which will enhance global air connectivity and help cement the Kingdom’s position as a global hub connecting Africa, Asia, and Europe.

Vision 2030
The US welcomed the Kingdom’s Vision 2030, its blueprint for transformative economic and social reforms, and its efforts to increase women’s economic participation and promote interfaith dialogue. Saudi Arabia welcomed greater US private sector investment in the Kingdom, as well as increasing Saudi investments in the American private sector for the benefit of both countries.
The US side welcomed Saudi Arabia’s bid to host World Expo in 2030, and other events to be held over the course of that milestone year, the culmination of Saudi Arabia’s Vision 2030 reform program. The Saudi side noted the importance for the region of the World Cup being hosted by Qatar later this year and welcomed the United States serving as host for the World Cup in 2026.

Regional Cooperation
The two sides then addressed particular regional and global issues, including:

Yemen
Both sides affirmed their strong support for the UN-brokered truce in Yemen and stressed the importance of extending the truce and making progress to transform the truce into a lasting peace agreement. President Biden expressed his appreciation for the role The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al-Saud and His Royal Highness Crown Prince Mohammed bin Salman Al-Saud, Deputy Prime Minister, have played in achieving and renewing the truce. The two sides stressed their long-stated goal to end the war in Yemen, and called on the international community to take a unified position calling on the Houthis to return to peace talks under the auspices of the United Nations based on the three references, including UN Security Council Resolution 2216 (2015). Only a political agreement between the Yemeni parties can durably resolve the conflict and reverse the dire humanitarian crisis.
The two sides also affirmed their support for Yemen's Presidential Leadership Council and thanked the Council for its commitment to the truce and steps that have improved the lives of Yemenis across the country, including facilitating fuel imports and restarting flights from Sana’a.
They also stressed the need to remove all impediments to the flow of essential goods and delivery of aid inside Yemen, and the importance of the Houthis opening the main roads to Taiz – Yemen’s third largest city which has been under siege conditions since 2015.
Saudi Arabia and the United States encouraged all regional actors to fully support the truce, which has resulted in the longest period of peace in Yemen in six years. Saudi Arabia welcomed the United States’ support of the truce and its contribution to the efforts to advance the political process in Yemen.

Iraq
President Biden welcomed the leading role played by the Kingdom of Saudi Arabia in strengthening relations with Republic of Iraq, and the historic agreements to be signed on the margins of the Jeddah Security and Development Summit on July 16, 2022, to link the electricity networks of Saudi Arabia and the Gulf Cooperation Council countries to the Iraqi grid, in order to provide Iraq and its people with new and diversified electricity sources.

Palestine
Regarding Israel-Palestinian issues, the two sides underscored their enduring commitment to a two-state solution, wherein a sovereign and contiguous Palestinian state lives side-by-side in peace and security with Israel, as the only way to resolve the Palestinian Issue in accordance with the internationally-recognized parameters and the Arab Peace Initiative. The leaders noted their determination to remain closely coordinated on efforts to encourage the parties to demonstrate – through policies and actions – their commitment to a two-state solution. The United States and Saudi Arabia welcomed all efforts that contribute to reaching a just and comprehensive peace in the region.

Syria
The two sides reiterated their commitment to preserving the unity, stability, and territorial integrity of Syria and expressed their support for the efforts of the Special Envoy of the Secretary-General of the United Nations to reach a political solution to the conflict consistent with the formula outlined in the UN Security Council Resolution 2254 (2015), stressing at the same time the need to prevent renewed of violence, to maintain established ceasefires, and to allow the unhindered delivery of humanitarian aid to all Syrians in need.

Lebanon
The two sides affirmed their continued support for Lebanon’s sovereignty, security and stability, and their support for the Lebanese Armed Forces that protect its borders and resist the threats of violent extremist and terrorist groups. They also noted the importance of forming a Lebanese government and implementing comprehensive structural political and economic reforms to ensure that Lebanon overcomes its political and economic crisis, and that it does not become a launching point for terrorists, drug smuggling, or other criminal activities that threatens the stability and security of the region.
They emphasized the importance of the control of the government of Lebanon over all Lebanese territory, including with reference to fulfilling the provisions of the relevant UN Security Council resolutions and the Taif Accord, and for it to exercise full sovereignty, so there will be no weapons without the consent of the government of Lebanon or authority other than that of the government of Lebanon.

Ukraine
The two sides underscored that a rules-based order lies at the heart of international security, emphasizing the importance of the respect for international law, territorial integrity, and national sovereignty. They reaffirmed the principles as set forth in the March 2, 2022, UN General Assembly Resolution ES-11/1, endorsed by all GCC members.
The leaders reaffirmed their commitment to providing critical assistance to the Ukrainian people, and to ensure the unhindered export of grain and wheat products to alleviate the global food crises, which threatens to acutely impact a number of Middle Eastern and African states.

Sudan
The two sides underscored the importance of the dialogue between Sudanese parties and reviving the political process. They commended the efforts made by the United Nations Mission to support the return to the foundations of a political solution in Sudan, and expressed their satisfaction with the active role of the Quad for Sudan, wishing Sudan and its people peace and prosperity.

Libya
Both sides affirmed their support for the Libyan people as they engage in the UN-brokered political process to prepare for presidential and parliamentary elections as soon as possible. They expressed their full support for the Libyan ceasefire agreement concluded on October 23, 2020 and the Libyan call for the complete departure of foreign forces, foreign fighters, and mercenaries without further delay, in accordance with United Nations Security Council Resolution 2570 (2021).

Afghanistan
The two sides stressed the need to support Afghanistan’s security and to address the threat posed by Afghanistan-based terrorists. They also underscored the importance of continuing to support humanitarian assistance to Afghanistan. They expressed support for addressing the needs and promoting the rights of the Afghan people including the rights of women and girls to education and enjoyment of the highest attainable standard of health and, for women, the right to work.

Counter-Terrorism
The two sides underscored the importance of confronting terrorism and violent extremism. They expressed their continued commitment to countering al-Qaeda and ISIS, stemming the flow of foreign fighters, countering violent extremist propaganda, and cutting off terrorist financing streams.
The two sides highlighted the joint efforts through the Terrorist Financing Targeting Center, which is based in the Kingdom of Saudi Arabia. They reviewed and commended the exceptional success of the Global Coalition to Defeat ISIS, established in Jeddah in 2014, and stressed the need for this coalition to continue, and to make long-term and multi-year efforts to return both detained ISIS fighters and the tens of thousands of ISIS family members from northeastern Syria to their home countries. They welcomed the next Global Coalition to Defeat ISIS ministerial meeting to be held in Saudi Arabia in early 2023.

Conclusion
The two sides decided to expand and strengthen bilateral cooperation in all areas discussed in this meeting, prior to the next annual Strategic Dialogue between Saudi Arabia and the United States to be held in the Kingdom later this year. This Jeddah Communique should form the basis of work going forward to consolidate and enhance the strategic partnership between the two countries.


Saudi Arabia prepares for inaugural Umrah and Ziyarah Forum

Updated 54 min 22 sec ago
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Saudi Arabia prepares for inaugural Umrah and Ziyarah Forum

  • Developing Hajj and Umrah services in the Kingdom is a key priority of the Saudi government
  • Forum will showcase initiatives and services aimed at enriching the experience of Umrah performers and visitors

RIYADH: The Ministry of Hajj and Umrah is in the final stages of preparation for the launch of the inaugural Umrah and Ziyarah Forum, scheduled to convene in Madinah on Monday, April 22, for three days.

Under the patronage of Prince Salman bin Sultan, the governor of Madinah region, the forum will be held at the King Salman International Convention Center.

Developing Hajj and Umrah services in the Kingdom is a key priority of the Saudi government and an extension of the country’s historic role in serving Muslims and Islam worldwide.

The forum will showcase initiatives and services aimed at enriching the experience of Umrah performers and visitors from within and outside the Kingdom. It is part of achieving the goals of Saudi Vision 2030, aiming to enable a larger number of Umrah performers to visit Makkah and Madinah and have the best experience they can.

The forum is held in partnership with the Pilgrim Experience Program, one of the programs of Vision 2030.

The event will include dialogue sessions, discussion groups, interactive workshops and an exhibition displaying the latest advancements in the sector.

It will feature participation from government officials and private sector stakeholders, including travel agencies, pilgrimage and tourism companies, and innovators spanning the insurance, healthcare, transportation, and technology industries.

The forum will address opportunities in the Umrah and tourism sectors, and will focus on the quality of projects, services, and products.

Participants in the general sessions and accompanying workshops of the Umrah and Ziyarah Forum will showcase their experiences, services and products. During the forum, the Ministry of Hajj and Umrah will announce new opportunities and innovative work domains.

Moreover, several partnerships and agreements will be signed to enhance services in Makkah, Madinah, and various Islamic, historical, archaeological, and other cultural sites.


Eastern Province, Qassim, Riyadh brace for heavy downpours, hailstorms

Updated 16 April 2024
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Eastern Province, Qassim, Riyadh brace for heavy downpours, hailstorms

  • NCM forecast heavy rains, high-speed winds, hail storms in these regions on Tuesday
  • Schools closed, online classes in parts of Kingdom due to inclement weather

RIYADH: Saudi Arabia will receive more rainfall on Tuesday with the Eastern Province, Al-Qassim region and the capital Riyadh and its outskirts likely to witness heavy rains, accompanied by high-speed winds, hail and subsequent lack of visibility, according to the forecast of the National Center of Meteorology.

The NCM forecast for Tuesday said: “There will be high speed wind, sandstorms followed by heavy rain and hailstorm in Qassim, Riyadh, Eastern Province, Northern Border region and Hail.

“Eastern Province, Qassim and Riyadh will record low temperatures, and there is a possibility of flash floods in these areas,” it added.

Hussein Al-Qahtani, spokesperson of the NCM, called for utmost caution and vigilance due to the weather fluctuations in these regions.

“Manifa in the Eastern Province exceeded 42 mm of rain within an hour, and the chances of rain continue in the affected areas. We call on everyone to be careful and monitor weather information across the center, given the weather fluctuations affecting the areas in the Kingdom,” said Al-Qahtani.

Following inclement weather, education authorities in several parts of Saudi Arabia suspended in-person classes on Tuesday and ordered schooling to be shifted online.

The suspension was announced for classes in the Eastern Province, Al-Qasim and Unaizah in central Saudi Arabia and Hafr Al-Batin in the Kingdom’s northeast.

A similar measure was taken for schools in some governorates in the Riyadh region including Wadi Al-Dawasir, Afif, Dawadmi, Al-Aflaj, Al-Zulfi, Shaqra, Al-Ghat and Al-Majma’ah, based on forecast issued by the NCM, to ensure safety of students and staff.

According to the NCM forecast Najran, Jazan, and Aseer regions will experience high speed wind and moderate rainfall.

Cities in the Eastern Province were lashed by heavy-to-torrential rains on Monday while the NCM forecast rainy weather to continue in the region, accompanied by strong winds, low-visibility, hailstorms, thunderstorms and flash flood.

Amid unstable weather in the Gulf region, rainy low pressure hit Oman earlier this week, and the UAE on Monday, causing floods, and it could extend further afield.

The Saudi Civil Defense and the traffic authorities have warned motorists of the risk of cars skidding during rainfall, and advised residents to be careful while going out.

The General Directorate of Saudi Civil Defense warned people to be cautious of potential dangers as the NCM has forecast the poor weather conditions to continue.

The directorate said on Tuesday that forecasts from the NCM indicate heavy to moderate rains across the Kingdom.

“The Civil Defense calls on everyone to take caution and adhere to its instructions as we see the weather in the Eastern Province. Your cooperation is needed. Your safety is our goal,” it said.


WFP welcomes funding from KSrelief to combat malnutrition in Sudan and South Sudan

Updated 16 April 2024
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WFP welcomes funding from KSrelief to combat malnutrition in Sudan and South Sudan

  • The funding will benefit over 35,000 children and pregnant or breastfeeding mothers affected by conflict, economic instability, and climate-related disasters

RIYADH: The United Nations World Food Programme (WFP) has signed two agreements worth a total of US$1.4 million with Saudi Arabia.

These agreements aim to provide treatment and prevention measures for malnutrition in Sudan and South Sudan.

The funding will benefit over 35,000 children and pregnant or breastfeeding mothers affected by conflict, economic instability, and climate-related disasters. Specifically, it will aid nearly 29,000 individuals in Sudan and close to 6,000 individuals in South Sudan.

Michael Dunford, WFP's Regional Director for the East Africa region, emphasized the importance of this funding, especially given the dire situation unfolding in Sudan, which is on the brink of becoming one of the world's largest hunger crises. He stressed the urgency of addressing malnutrition to prevent needless deaths and mitigate the long-term consequences of childhood malnutrition.

The agreements were formalized during a pledging conference for the Sudan crisis in Paris, where WFP's Executive Director, Cindy McCain, and Dr. Abdullah Al Rabeeah, Royal Court Advisor and Supervisor General of King Salman Humanitarian Aid and Relief Centre (KSRelief), signed the documents.

Dr. Abdullah Al Moallem, Director of KSRelief's Health and Environmental Aid Department, reaffirmed their commitment to supporting vulnerable populations in Sudan and South Sudan. He highlighted the importance of these projects in providing emergency nutritional aid to children and pregnant or lactating women, which will ultimately contribute to combating famine and malnutrition in both countries.

In Sudan, nearly 4.9 million children under five and pregnant or breastfeeding women face acute malnutrition—a 22% increase from the previous year. South Sudan is also grappling with high malnutrition rates, with approximately 1.6 million children and 870,000 pregnant and breastfeeding women expected to be malnourished this year.


Saudi FM says Pakistan visit to reap ‘significant benefits’ amid push for strategic, commercial partnership

Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan in Islamabad. (@KSAMOFA)
Updated 16 April 2024
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Saudi FM says Pakistan visit to reap ‘significant benefits’ amid push for strategic, commercial partnership

  • Saudi Foreign Minister Prince Faisal bin Farhan is in Pakistan to discuss bilateral economic cooperation, investments
  • Prince Faisal's visit comes a week after Saudi crown prince reaffirmed commitment to expedite $5 billion Pakistan investments

ISLAMABAD: Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan on Tuesday described his ongoing visit to Pakistan to discuss investments as “very, very positive” and said Islamabad's focus on results and overcoming hurdles would deliver “significant benefits.”

Prince Faisal arrived in Pakistan on Monday on a two-day visit aimed at enhancing bilateral economic cooperation and pushing forward previously agreed investment deals. His trip comes a little over a week after Crown Prince Mohammed bin Salman met Prime Minister Shehbaz Sharif in Makkah and reaffirmed the Kingdom’s commitment to expedite investments worth $5 billion.

Pakistan and Saudi Arabia enjoy strong trade, defense and cultural ties. The Kingdom is home to over 2.7 million Pakistani expatriates and the top source of remittances to the cash-strapped South Asian country.

“We were extremely impressed by the very, very proactive attitude that we saw in our meetings, especially with the [Special] Investment [Facilitation] Council,” Prince Faisal said at joint press conference with his Pakistani counterpart Ishaq Dar. He was referring to a Pakistani civil-military council set up last year to oversee and fast-track all foreign investments.

“I feel very, very confident that the results of this visit and the results of the work being done between the two respective teams, with this attitude, with this approach of a focus on results, focus on overcoming hurdles, will deliver significant benefits,” the Saudi official added. 

He said there was a “significant opportunity” for the Kingdom to increase its investments in Pakistan, adding that his engagements with Pakistani leaders had laid the groundwork for "significant and important work to be done" in the months ahead:

“There is a lot of untapped potential that is clear to everyone. It just needs to be tapped … And here, working together, we will do what we can with our colleagues in the government of Pakistan to make that happen.”

Pakistani foreign minister Dar said both sides had held comprehensive discussions covering various aspects of Pak-Saudi cooperation.

“We discussed ways and means to transform our fraternal cordial relations into a mutually beneficial strategic and economic partnership,” Dar said. “We greatly appreciate the keen interest of the leadership of the Kingdom of Saudi Arabia in enhancing investments in Pakistan.”

The Pakistani minister said Islamabad was committed to providing Saudi investors with full support, relevant safeguards and a conducive environment for investment.

 

PAKISTAN-SAUDI INVESTMENT CONFERENCE

Earlier, the Saudi foreign minister held meetings with top civilian leadership including the prime minister, president and foreign minister to discuss economic opportunities and also co-chaired an investment conference. He is also expected to meet the army chief before departing for Riyadh.

“We aim to transform our traditionally fraternal ties into a strategic and economic partnership,” Dar said as he addressed a Pakistan-Saudi Arabia Investment Conference in Islamabad, held under the umbrella of SIFC.

“Your investments are not just financial commitments but are crucial in nurturing a deeply valued partnership,” Dar told the visiting dignitary.

Pakistan was blessed with fertile agricultural lands, minerals and a large and dynamic population, complemented by a flourishing IT sector and abundant prospects for renewable energy creation, the foreign minister added.

He said Pakistan’s fertile lands and a vast network of water resources presented numerous investment opportunities in agri-tech and food processing, with the South Asian nation having the potential to become the region’s food basket.

“Our mining sector is marked by untapped potential especially in the expansive Tethyan belt known for its abundant deposits of copper, gold and other valuable minerals,” Dar said. “The strategic advancements in these areas are highlighted by projects such as Riko Diq copper [and gold] project which exemplifies our commitment to leveraging our natural resources for mutual benefit.”

On Sunday, Pakistani state media reported Saudi Arabia was likely to invest $1 billion in the mine project in Pakistan’s southwestern Balochistan province, one of the world’s largest underdeveloped copper-gold areas.

The foreign minister said Pakistan’s goal was to transform the country into a hub of economic activity, and innovation and create an attractive environment for global investors like Saudi Arabia.

“Investing in Pakistan is not merely a placement of capital. It would actually be instrumental toward forging a partnership that promises mutual prosperity and progress,” he concluded.

“Your engagement and investment in Pakistan will be handled with utmost respect and institutionalized commitment from our side, ensuring that together we achieve remarkable success.”

 

MEETINGS WITH PM AND PRESIDENT

Prince Faisal also met Pakistani PM Sharif on Tuesday who said the Saudi official’s visit would herald a "new era" of strategic and commercial partnerships between the two long-time allies.

“The visit is the beginning of a new era of strategic and commercial partnership between Pakistan and Saudi Arabia,” Sharif was quoted as saying in a statement from his office after he met Prince Faisal. “Pakistan wants to further promote cooperation in the fields of trade and investment between the two countries.”

The PM said Pakistan was taking steps to promote foreign investment and make partnerships “mutually beneficial” for allies, adding that Islamabad was grateful to the Saudi leadership for increasing investment.

Informing the Saudi delegation about the wide potential of investment in Pakistan, Sharif briefed them about the Special Investment Facilitation Council and measures the body was taking to promote investment.

Sharif also invited the Saudi crown prince to Islamabad.

“The people of Pakistan are looking forward to the visit of His Highness the Crown Prince Muhammad Bin Salman to Pakistan,” the PM’s office said.

President Asif Ali Zardari and Prince Faisal also met on Tuesday and reiterated the two nations’ resolve to build a strong partnership and promote mutually beneficial economic cooperation.

Zardari said Pakistan was working to transform its long-standing and decades-old relationship with Riyadh into a “long-term strategic and economic partnership.”

The two sides also discussed regional dynamics and recent developments in the Middle East and called for an immediate and unconditional ceasefire in Gaza and an end to Israeli air and ground offensives there.

INVESTMENT PUSH

In a statement shared with media on Monday, the Pakistan information ministry said the Saudi delegation would consult with Pakistani officials “on the next stages of investment and implementation issues.”

Saudi Arabia’s planned investment in the Reko Diq gold and copper mining project would be discussed during the visit, the ministry said, adding that Riyadh was also interested in investing in agriculture, trade, energy, minerals, IT, transport and other sectors in Pakistan:

“As a result of this visit, Pakistan’s export capacity will increase, joint ventures will be launched and new opportunities will be paved.”

Cash-strapped Pakistan desperately needs to shore up its foreign reserves and signal to the International Monetary Fund (IMF) that it can continue to meet requirements for foreign financing that has been a key demand in previous bailout packages. Pakistan’s finance minister, Muhammad Aurangzeb, is currently in Washington to participate in spring meetings of the International Monetary Fund and World Bank and discuss a new bailout program. The last loan deal expires this month.

Saudi Arabia has often come to cash-strapped Pakistan’s aid in the past, regularly providing it oil on deferred payments and offering direct financial support to help stabilize its economy and shore up its forex reserves.


Saudi Arabia did not participate in intercepting Iranian attacks on Israel – sources

Updated 16 April 2024
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Saudi Arabia did not participate in intercepting Iranian attacks on Israel – sources

  • Israeli news websites have alleged Kingdom participated in recent defense coalition that confronted Iranian attacks
  • Iran launched drones and missiles toward Israel on Saturday evening into Sunday morning in response to Israeli strikes

RIYADH: Informed sources denied to Al Arabiya on Monday Saudi Arabia’s participation in intercepting Iranian drones during its attack on Israel on Saturday.

Israeli news websites had published statements attributed to an official Saudi website stating that the Kingdom participated in the recent defense coalition that confronted the Iranian attacks.

“There is no official website that published a statement about Saudi participation in intercepting attacks against Israel,” the sources told Al Arabiya.

Iran launched drones and missiles toward Israel on Saturday evening into Sunday morning and described the attack as a response to several crimes, including the strike on its consulate in Damascus on April 1.

Tehran indicated that the attack targeted military targets, while the Israeli army announced that it intercepted 99 percent of the Iranian missiles.