ISLAMABAD: A high-level Saudi business delegation is scheduled to arrive in Pakistan tomorrow to explore investment opportunities in various economic sectors by holding meetings with private sector organizations, said Federal Minister for Petroleum Musadik Malik during a media briefing held in Lahore on Saturday.
The two countries have witnessed a flurry of official visits in recent weeks, with Saudi Foreign Minister Prince Faisal bin Farhan traveling to Islamabad earlier in April, before Prime Minister Shehbaz Sharif’s two-day visit to the kingdom to attend a World Economic Forum meeting and hold a number of meetings.
“The Saudi Deputy Investment Minister is visiting Pakistan tomorrow,” said Malik, who is also the focal person for Saudi-Pak bilateral collaboration. “He is bringing representatives from 30 to 35 companies whose CEOs are coming here.”
The Pakistani minister maintained his country had always cherished cordial ties with the kingdom, though it had not managed to turn this “relationship of friendship into a relationship of stability and progress.”
He said Pakistan mostly discussed its financial concerns with the Saudi authorities and requested their support. However, the present government wanted to change that by focusing its bilateral conversations on mutually beneficial progress and development, not aid and assistance.
The minister said the two sides discussed a new refinery project during the recent engagements that would be used for export purposes to earn foreign revenue. Additionally, food security was also discussed to further strengthen Pakistan’s agricultural sector.
He informed that Prime Minister Sharif wanted the country’s “private sector to take the lead on this path to progress.”
“That is why Saudi investors have been invited to come here,” he continued. “They will sit with Pakistani companies and figure out ways to connect the Pakistani talent with the capital and investment needed at the international level for the IT revolution.”
Malik said the bilateral collaboration would primarily benefit small businesses, particularly the technology companies established by young students who were likely to get significant amount of investment from Saudi entrepreneurs.
He expressed optimism that chemical, energy and agricultural companies would also gain advantage from the ongoing bilateral collaboration between the two sides.
Saudi business delegation to arrive in Pakistan Sunday to explore investment opportunities — minister
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Saudi business delegation to arrive in Pakistan Sunday to explore investment opportunities — minister
- Musadik Malik says Saudi investment will mainly benefit small technology firms run by young Pakistani students
- He informs the two sides have also discussed a new refinery for export purposes that will help with foreign revenue
Pakistan joins regional talks on Afghanistan in Iran as Kabul stays away
- China, Pakistan, Pakistan, Tajikistan, Uzbekistan, Turkmenistan all joined talks organized by Iran, as did Russia
- Afghanistan was invited but decided not to attend, Taliban-led government was tight-lipped on the reasons
TEHRAN, Iran: Afghanistan’s neighbors met in Iran and agreed to deepen regional coordination to address political, economic and security challenges, as well as calling for sanctions on Afghanistan to be lifted.
The only absent party? Afghanistan itself.
China, Pakistan, Pakistan, Tajikistan, Uzbekistan and Turkmenistan all joined the talks organized by Iran, as did Russia, according to a statement released after the meeting on Sunday.
Afghanistan was invited but decided not to attend. Its Taliban-led government was tight-lipped on the reasons, with the foreign ministry saying only that it would not participate because Afghanistan “currently maintains active engagement with regional countries through existing regional organizations and formats, and has made good progress in this regard.”
The statement from the talks in Iran stressed the importance of maintaining economic and trade ties with Afghanistan to improve living conditions and called for the country’s integration into regional political and economic processes.
The Taliban were isolated after they retook power in Afghanistan in August 2021, but in the past year, they have developed diplomatic ties. They now raise several billion dollars every year in tax revenues to keep the lights on.
However, Afghanistan is still struggling economically. Millions rely on aid for survival, and the struggling economy has been further impacted by the international community not recognizing the Taliban government’s seizure of power in the wake of the chaotic withdrawal of US-led troops in 2021. Natural disasters and the flow of Afghans fleeing Pakistan under pressure to return home have underlined Afghanistan’s reliance on foreign aid to meet essential needs.
The countries at the talks also voiced security concerns and pledged cooperation in combating terrorism, drug trafficking and human smuggling, while opposing any foreign military presence in Afghanistan. They underscored the responsibility of the international community to lift sanctions and release Afghanistan’s frozen assets, and urged international organizations to support the dignified return of Afghan refugees from neighboring countries.
The participants backed efforts to reduce tensions between Afghanistan and Pakistan, which have been particularly strained, with border clashes between the two sides killing dozens of civilians, soldiers and suspected militants and wounding hundreds more.
The violence followed explosions in Kabul on Oct. 9 that Afghan authorities blamed on Pakistan. A Qatar-mediated ceasefire has largely held since October, although there have been limited border clashes. The two sides failed to reach an overall agreement in November despite three rounds of peace talks.
Asif Durrani, Pakistan’s former special representative for Afghanistan, said the Taliban government’s decision to skip the meeting reflected a “lack of political maturity.”
Writing on X, Durrani said the move reinforced concerns that the Taliban were unwilling to negotiate, instead adopting an “I don’t accept” stance that he said would do little to resolve serious regional problems.
Mohammad Sadiq, the current Pakistani special representative for Afghanistan who attended the talks, wrote on X that the Afghan people had already suffered enough and deserved better.
Only an Afghanistan that does not harbor militants would inspire confidence among neighboring and regional countries to engage meaningfully with Kabul and help unlock the country’s economic and connectivity potential, he wrote.
Participants agreed to hold the next meeting of foreign ministers of Afghanistan’s neighboring countries as soon as possible in Ashgabat, Turkmenistan, and welcomed Pakistan’s offer to host the next round of special envoys’ talks in Islamabad in March.
Iran’s foreign ministry spokesman, Esmail Baghaei, on Sunday said that the meeting had not been held for about two years and marked the first such gathering attended by special envoys on Afghanistan from neighboring countries as well as Russia. Russia and Uzbekistan sent the special envoys of their presidents, while Pakistan was represented by a delegate from the prime minister’s office.
Landlocked Afghanistan is sandwiched between the Middle East, Central Asia, and South Asia, making it strategically located for energy-rich and energy-hungry nations.
