https://arab.news/2mfsh
- The development comes after the Saudi vice-minister of foreign affairs’ meeting with PM Shehbaz Sharif in Islamabad on Tuesday
- Eng. Waleed bin Abdulkarim Al-Khuraiji is leading a high-level Saudi delegation to Pakistan, with members from multiple Saudi ministries
ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday invited Saudi Arabia to avail investment opportunities in Pakistan’s agriculture, mining, and other sectors, as he met the Kingdom’s vice-minister of foreign affairs in Islamabad.
Eng. Waleed bin Abdulkarim Al-Khuraiji, Saudi Arabia’s vice-minister of foreign affairs, is leading a high-level Saudi delegation to Pakistan, with members from the Saudi ministries of foreign affairs, energy, health, environment and agriculture, industry and mineral resources, and investment.
The Pakistan prime minister welcomed the delegation and expressed satisfaction on the positive trajectory of bilateral relations with the Kingdom, according to Sharif’s office. He also conveyed his greetings for the Saudi leadership.
“The Prime Minister invited Saudi government and companies to avail the investment opportunities in agriculture, mining, IT, energy and other sectors,” Sharif’s office said in a statement.
“The establishment of a Special Investment Facilitation Council (SIFC) will facilitate and fast-track potential investments from GCC member states, especially the Kingdom of Saudi Arabia,” the prime minister was quoted as saying.
Reeling from an economic crisis, Pakistan established the SIFC in June with sole purpose of attracting foreign direct investment.
Sharif thanked Saudi Arabia for its timely financial support to Pakistan, especially during last year’s floods, and appreciated the Kingdom’s role in helping Pakistan in its efforts to achieve macroeconomic stability, according to the statement.
Pakistan and Saudi Arabia have deep cultural, defense and economic ties, deeply rooted in history and religion. The Kingdom is home to over two million Pakistanis, making it the largest contributor to remittance inflows into the South Asian country.
“The visit of the Saudi delegation manifests the deep interest and willingness on both sides to transform the longstanding fraternal ties into concrete and mutually rewarding economic partnership,” Sharif’s office said.
It would contribute to further enhancement of multi-faceted collaboration between the two countries, it added.