PM Sharif arrives in Saudi Arabia on two-day visit to attend ‘Davos in the Desert’

PM Sharif arrives in Saudi Arabia on two-day visit to attend ‘Davos in the Desert’
Deputy Governor of Riyadh, Prince Mohammed bin Abdulrahman bin Abdulaziz (right) receives Pakistan's Prime Minister Shehbaz Sharif in Riyadh, Saudi Arabia, on October 24, 2022. (PMO/Twitter)
Short Url
Updated 24 October 2022
Follow

PM Sharif arrives in Saudi Arabia on two-day visit to attend ‘Davos in the Desert’

PM Sharif arrives in Saudi Arabia on two-day visit to attend ‘Davos in the Desert’
  • The prime minister says the current state of global economy requires new thinking to overcome irritants
  • This is the second visit by the Pakistani premier to the Kingdom this year since assuming office in April

ISLAMABAD: Pakistani prime minister Shehbaz Sharif on Monday arrived in Saudi Arabia on a two-day visit to participate in an investment conference in Riyadh, his office said.

Hundreds of CEOs and finance moguls are expected in Riyadh from Tuesday for a Davos-style investment conference, the Future Investment Initiative (FII), launched in 2017 by the world’s largest crude exporter, which is trying to diversify away from oil under Crown Prince Mohammed bin Salman.

This is the second visit by Sharif to Saudi Arabia since he took office in April. A statement from Sharif's office said the prime minister is visiting the Kingdom on the invitation of Saudi Arabia’s Crown Prince Mohammed bin Salman.

“During his stay in the capital Riyadh, the prime minister will meet with the Saudi crown prince and discuss strengthening the multi-faceted cooperation between the two countries in the economic sector and further improving the long-standing fraternal relations,” the statement read.

Sharif wrote on Twitter he would attend the Future Investment Initiative (FII) conference being held in Riyadh from October 25-27 on the crown prince’s invitation.

The prime minister maintained the state of the global economy required new thinking to overcome the irritants.

“There are serious concerns about the threat of global recession hitting the economies,” he said. “The pandemic & climate-induced disasters have already put immense strains on the developing countries. High time the world explored solutions to the deepening challenges through candid dialogue.”

This year’s theme of the annual conference, which started in 2017, is “Investing in Humanity: Enabling a New Global Order.”

During the visit, Sharif is expected to meet Saudi leaders and highlight at the conference various investment opportunities in Pakistan.

Members of Sharif’s cabinet, including interior minister Rana Sanaullah, have also confirmed that the Saudi crown prince will visit Pakistan next month.