Saudi business delegates to soon visit Pakistan, help expedite economic cooperation — PM Sharif

Saudi Minister for Commerce, Majid Al Kasabi (right), shakes hands with Pakistan Prime Minister Muhammad Shehbaz Sharif on April 29, 2024 in Riyadh, Saudi Arabia. (PMO/File)
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Updated 01 May 2024
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Saudi business delegates to soon visit Pakistan, help expedite economic cooperation — PM Sharif

  • Pakistan is currently making rigorous efforts to attract investment from Saudi Arabia, other Gulf nations to support dwindling economy
  • PM Shehbaz Sharif expresses resolve to work hard to implement consensus achieved in meetings with Saudi leadership on WEF sidelines

ISLAMABAD: Prime Minister Shehbaz Sharif said on Tuesday that a delegation of Saudi businessmen would soon visit Pakistan, which would help expedite economic cooperation between the two brotherly countries.

The statement came at the end of PM Sharif’s visit to Riyadh, where he attended a two-day World Economic Forum (WEF) summit on Global Collaboration, Growth and Energy for Development on April 28-29.

On the sidelines of the summit, the prime minister held meetings with Crown Prince Mohammed bin Salman as well as Saudi ministers of energy, economy and planning, and environment, water, and agriculture.

Sharif, upon the completion of his visit, said bilateral relations and economic partnership between Saudi Arabia and Pakistan were getting “stronger and stronger.”

“A delegation of businessmen from Saudi Arabia is visiting Pakistan in the next few days,” he was quoted as saying in a statement issued from his office.

“The speed of economic partnership between the two countries will be accelerated by the visit of the Saudi Arabian businessmen.”

He expressed his resolve to work hard to implement the consensus achieved at the leadership level between the two countries, saying that a record number of delegations had been exchanged between Pakistan and Saudi Arabia during the past two months.

“His Excellency Crown Prince Mohammed bin Salman issued special instructions to Saudi ministers regarding Pakistan, for which we are extremely grateful,” Sharif said.

“I also pay tribute to Saudi ministers, who made full preparations for the implementation of the consensus between the leadership [of the two countries].”

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 countries have been closely working to increase bilateral trade and investment deals, and the Kingdom recently reaffirmed its commitment to expedite an investment package worth $5 billion.