ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday met with Saudi Arabia’s ministers of finance, investment and industry in Riyadh on the sidelines of a World Economic Forum (WEF) meeting, Sharif’s office said, adding that the Saudi ministers assured him of the Kingdom’s support for Pakistan’s development.
The Pakistan prime minister arrived in Riyadh on Saturday to attend the WEF meeting on global collaboration, growth and energy on April 28-29, after being extended an invitation by Crown Prince Mohammed bin Salman and Professor Klaus Schwab, the WEF executive chairman.
On the sidelines of the WEF meeting, Sharif held separate meetings with Saudi Arabia’s Finance Minister Mohammed Al-Jadaan, Investment Minister Khalid Al-Falih, and Industry and Mineral Resources Minister Bandar Alkhorayef, according to the Pakistan PM’s office.
In his meeting with the Saudi finance minister, the two sides agreed that Saudi Arabia would explore more opportunities for investment in Pakistan.
“The Saudi finance minister reiterated Saudi Arabia’s support for Pakistan’s economic development,” Sharif’s office said in a statement.
Saudi Minister for Finance Mohammad Al Jadaan (2R) along with his team meets Pakistan Prime Minister Shehbaz Sharif (R) on the sidelines of a special meeting of the World Economic Forum in Riyadh on April 28, 2024. (Photo courtesy: PMO)
The Saudi investment minister acknowledged PM Sharif’s efforts for Pakistan’s growth and prosperity.
“A delegation of Saudi investors will soon visit Pakistan,” he was quoted as saying by Sharif’s office.
“Pakistan is our priority in terms of investment. Both sides will continue to fully cooperate in agriculture, information technology (IT) and energy sector.”
Pakistan and Saudi Arabia enjoy strong trade, defense and cultural ties. The Kingdom is home to over 2.7 million Pakistani expatriates and serves as the top source of remittances to the cash-strapped South Asian country.
Both Pakistan and Saudi Arabia have been closely working to increase their bilateral trade and investment, and the Kingdom recently reaffirmed its commitment to expedite an investment package worth $5 billion discussed previously with Islamabad.
In his meeting with the prime minister, Saudi Arabia’s Industry and Mineral Resources Minister Bandar Alkhorayef expressed “deep interest” in cooperation with Pakistan in agriculture, minerals, IT and other sectors, according to Sharif’s office.
“I am in touch with Saudi private companies regarding investment in Pakistan and [representatives of] these companies will visit Pakistan very soon,” the Saudi minister was quoted as telling PM Sharif.
“Cooperation between private sectors of the two countries is among our top priorities.”
PM Sharif thanked Saudi Arabia’s King Salman and Crown Prince Mohammed bin Salman as well as the Saudi ministers for supporting Pakistan in every difficulty.
“During my previous government, our economic situation improved, thanks to Saudi Arabia’s support and assistance,” he said, describing both countries as strategic partners.
Pakistan’s Foreign Minister Ishaq Dar, Finance Minister Muhammad Aurangzeb and other members of PM Sharif’s cabinet were also present at the meetings.
