ISLAMABAD: Prime Minister Shehbaz Sharif arrived in Jeddah on Wednesday on a four-day visit to Saudi Arabia, according to a statement released by his office, to discuss ways to further enhance bilateral trade and strengthen collaboration in key economic sectors.

Pakistan has tried to strengthen business-to-business (B2B) ties with the Kingdom, with both sides announcing during his visit to Riyadh last October they had signed 34 memorandums of understanding and agreements worth $2.8 billion to enhance private sector collaboration and commercial partnerships.

The two countries enjoy close defense, diplomatic, political and cultural relations, though they have consolidated their ties further in recent years as Pakistan grappled with a prolonged economic crisis and sought the kingdom’s help.

“Prime Minister Shehbaz Sharif has arrived in Jeddah on a four-day visit to Saudi Arabia,” the Prime Minister’s Office (PMO) said. 

It said Sharif was received by Prince Saud bin Mishaal bin Abdulaziz, the deputy governor of Makkah, upon his arrival. 

The statement informed that the prime minister was expected to meet Saudi Crown Prince and Prime Minister Mohammed bin Salman during his visit.

“During the meeting, the two leaders will discuss ways to promote trade, enhance partnerships in key sectors and facilitate broader economic cooperation,” it added.

In an earlier statement, the PMO said the two leaders would also focus on regional and global developments, including the Gaza situation, evolving Middle East dynamics and broader issues concerning the Muslim Ummah.

Saudi Arabia presents a key export opportunity for Pakistani businesses, given its strong consumer demand and ambitious Vision 2030 economic reforms that emphasize diversification and foreign investments.

Pakistan has a 2.7 million-strong diaspora in Saudi Arabia, which accounts for the highest remittance inflow, a crucial lifeline for the country’s economy.

Last month, Pakistan’s commerce minister, Jam Kamal Khan, inaugurated the country’s first-ever solo “Made in Pakistan” exhibition in Jeddah, informing participants that over 1.7 million Pakistani workers had migrated to the Kingdom in the past five years, making it the top destination for Pakistani emigrants.

Sharif is accompanied by Deputy Prime Minister and Foreign Minister Senator Ishaq Dar, Punjab Chief Minister Maryam Nawaz, along with key federal ministers and senior officials. The delegation is expected to engage with Saudi counterparts to explore new avenues of investment and economic cooperation.

“The Prime Minister’s visit highlights the deep historical ties between Pakistan and Saudi Arabia and will pave the way for enhancing mutual understanding, boosting cooperation in trade and investment and strengthening diplomatic engagement on bilateral, regional and global issues,” the PM Office added.