Pakistan and Saudi Arabia vow to boost investment in key sectors — commerce ministry

The photo shared on February 27, 2024, shows Pakistan Caretaker Commerce Minister Gohar Ejaz (second left) during visit to Saudi Arabia. (Photo courtesy: Dr Gohar Ejaz/X)
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Updated 27 February 2024
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Pakistan and Saudi Arabia vow to boost investment in key sectors — commerce ministry

  • Pakistan’s caretaker commerce minister held high-level talks in the kingdom to enhance bilateral economic ties
  • Saudi officials commit to strengthening trade relations and exploring new collaboration avenues with Pakistan

KARACHI: Pakistan and Saudi Arabia have agreed to work toward increasing investment in key sectors, laying the groundwork for sustainable economic growth and prosperity, Pakistani commerce ministry said on Tuesday.
The statement comes after Caretaker Commerce Minister Gohar Ejaz returned to Islamabad after completing an official visit to the kingdom, where he engaged in high-level discussions to strengthen bilateral economic ties between the two nations.
During his visit, Ejaz met with key Saudi officials including Minister of Investment Khaled Al-Falih and Commerce Minister Majid Bin Abdullah Al-Qasabi in Riyadh.
“These meetings aimed to explore opportunities for collaboration and investment between Pakistan and Saudi Arabia,” the statement added.
Accompanied by a delegation of 20 Pakistani industrialists, Ejaz held productive discussions with Saudi ministers on various avenues for enhancing bilateral trade and investment.
The discussions emphasized the importance of increasing cooperation in sectors such as oil and gas, construction, food and agriculture.
The Pakistani commerce minister highlighted the need to elevate trade and investment relations between the two sides, underscoring the mutual benefits of closer economic cooperation.
The Saudi ministers expressed their commitment to strengthening trade relations with Pakistan, affirming their willingness to explore new avenues for collaboration, according to the commerce ministry.
During the visit, the Saudi-Pakistan Business Forum in Riyadh was held on 21 February, which was organized in collaboration with the Saudi Ministry of Commerce, General Authority of Foreign Trade and the Saudi Federation of Chambers.
The focus of the event was to connect Pakistan’s top tier business leadership with their Saudi counterparts.
Sectors that were well represented on both sides included petrochemicals, fertilizers and chemicals, food, IT, investments, textile and real estate, according to commerce ministry.


Pakistan killed over 80 militants in strikes on TTP camps in Afghanistan — official

Updated 29 min 55 sec ago
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Pakistan killed over 80 militants in strikes on TTP camps in Afghanistan — official

  • Saturday’s airstrikes followed a series of attacks inside Pakistan amid a surge in militancy
  • The Afghan Taliban authorities accuse Pakistani forces of killing civilians in the airstrikes

ISLAMABAD: Pakistan’s airstrikes in Afghanistan destroyed seven Tehreek-e-Taliban Pakistan (TTP) camps and killed over 80 militants, a Pakistani security official said on Sunday, with the Afghan Taliban accusing Pakistani forces of killing civilians in the assault.

Saturday’s airstrikes followed a series of attacks inside Pakistan amid a surge in militancy. Authorities say the attacks, particularly in Khyber Pakhtunkhwa province and the Pakistani capital of Islamabad, were carried out by the TTP and allied groups that Islamabad alleges are operating from sanctuaries in Afghanistan. Kabul denies this.

According to Pakistan’s information ministry, recent incidents included a suicide bombing at a Shiite mosque in Islamabad, separate attacks in Bajaur and Bannu, and another recent incident in Bannu during the holy month of Ramadan, which started earlier this week. The government said it had “conclusive evidence” linking the attacks to militants directed by leadership based in Afghanistan.

“Last night, Pakistan’s intelligence-based air strikes destroyed seven centers of Fitna Al-Khawarij TTP in three provinces of Nangarhar, Paktika and Khost, in which more than eighty Khawarij (TTP militants) have been confirmed killed, while more are expected,” a Pakistani security official, who spoke on condition of anonymity, told Arab News.

An earlier statement from Pakistan’s information ministry said the targets included a camp of a Daesh regional affiliate, the Islamic State Khorasan Province (ISKP), which claimed a suicide bombing at an Islamabad Shiite mosque that killed 32 people this month.

In an X post, Afghan government spokesperson Zabihullah Mujahid said Pakistani forces had violated Afghan territory.

“Pakistani special military circles have once again trespassed into Afghan territory,” Mujahid said. “Last night, they bombed our civilian compatriots in Nangarhar and Paktika provinces, martyring and wounding dozens of people, including women and children.”
 
The Afghan Taliban’s claims of civilian casualties could not be independently verified. Pakistan did not immediately comment on the allegation that civilians had been killed in the strikes.

In a post on X, Afghanistan’s foreign ministry said it had summoned Pakistan’s charge d’affaires to Afghanistan Ubaid-ur-Rehman Nizamani and lodged protest through a formal démarche in response to the Pakistani military strikes.

“IEA-MoFA (The Islamic Emirate of Afghanistan’s Ministry of Foreign Affairs) vehemently condemns the violation of Afghanistan’s airspace and the targeting of civilians, describing it as a flagrant breach of Afghanistan’s territorial integrity & a provocative action,” it said in a statement.

“The Pakistani side was also categorically informed that safeguarding Afghanistan’s territorial integrity is the religious responsibility of the Islamic Emirate of Afghanistan; henceforth, the responsibility for any adverse consequences of such actions will rest with the opposing side.”

Tensions between Islamabad and Kabul have escalated since the Afghan Taliban returned to power in 2021. Pakistan says cross-border militant attacks have increased since then and has accused the Taliban of failing to honor commitments under the 2020 Doha Agreement to prevent Afghan soil from being used for attacks against other countries. The Taliban deny allowing such activity and have previously rejected similar accusations.

Saturday’s exchange of accusations marks one of the most direct confrontations between the two neighbors in recent months and risks further straining already fragile ties along the volatile border.