ISLAMABAD: Pakistani Prime Minister Shehbaz Sharif is on a two-day visit to Saudi Arabia this week where he will meet Crown Prince Mohammed bin Salman today, Friday, and discuss trade and investment as well as regional security matters.
The Pakistani prime minister will celebrate Eid Al-Adha in the Kingdom and hold a bilateral meeting with the Saudi Crown Prince that is expected to focus on enhancing cooperation in trade, investment and regional security.
Sharif reached Jeddah on Thursday evening and departed for Makkah to perform Umrah, the Prime Minister’s Office (PMO) said.
“The two leaders will discuss ways to further strengthen bilateral cooperation in various fields, including trade and investment, welfare of the Muslim Ummah, and regional peace and security,” PMO said about Sharif’s meeting with the Saudi Crown Prince later today, Friday.
Sharif is also expected to express gratitude to the Saudi leadership for their role in de-escalating recent tensions between Pakistan and India.
Last month, following the worst military confrontation between India and Pakistan in decades, Saudi Arabia, along with other Gulf nations, played a key role in mediating between the two nuclear-armed neighbors, helping to avert a potential war.
The visit also comes amid deepening economic ties between Pakistan and Saudi Arabia. In recent months, the two countries have signed multiple agreements aimed at boosting bilateral trade and investment. Notably, Saudi Arabia has committed to a $5 billion investment package to support Pakistan’s economy, which has been grappling with a balance of payments crisis.
Last year, Saudi and Pakistani businessmen signed 34 memorandums of understanding worth $2.8 billion, covering sectors such as industry, technology, and agriculture. Additionally, Saudi Arabia’s Manara Minerals is in talks to acquire a 10-20 percent stake in Pakistan’s $9 billion Reko Diq copper and gold mining project, one of the largest of its kind globally.
Defense cooperation is also a key component of the bilateral relationship. The two nations have a history of military collaboration, with Saudi Arabia providing support to Pakistan during times of regional tension and Pakistan training Saudi forces.
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.
