Physical Address

304 North Cardinal St.
Dorchester Center, MA 02124

Saudi Delegation Visits Pakistan to Boost Bilateral Economic Cooperation

A high-level Saudi delegation, led by Foreign Minister Faisal bin Farhan bin Abdullah, is set to embark on a crucial visit to Pakistan from April 15 to 16, 2024. This visit holds significant importance in strengthening the economic ties between the two nations, following recent discussions between Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammad bin Salman.

Saudi Delegation Visits Pakistan to Boost Bilateral Economic Cooperation

Details of the Visit:

The delegation comprises key figures from various sectors including Saudi Minister of Water and Agriculture, Eng Abdul Rahman Abdul Mohsen Al-Fadley, Minister of Industry and Mineral Resources, Bandar Ibrahim AlKhorayef, Deputy Minister of Investment, Badr AlBadr, Head of Saudi Special Committee, Mohammad Mazyed Al Towaijri, and senior officials from Ministry of Energy and Saudi Fund for General Investments.

Purpose of the Visit:

The primary agenda of the visit is to expedite the implementation of agreements made between the leadership of both countries, particularly focusing on enhancing bilateral economic cooperation. Notably, the recent commitment by Saudi authorities to increase deposits in the State Bank of Pakistan from $3 billion to $5 billion underscores the deepening economic ties.

Economic Initiatives:

Saudi Arabia has expressed interest in investing substantially in Pakistan, with initiatives such as establishing a $7 billion copper mine and a $14 billion oil refinery. Additionally, reports are indicating Saudi Arabia’s potential investment of up to $1 billion in the Reko Diq gold and copper mine, further solidifying economic collaboration.

Expected Meetings:

During their visit, the Saudi delegation is scheduled to hold meetings with key Pakistani officials including the President, the Prime Minister, the Foreign Minister, counterpart Ministers, the Chief of Army Staff (COAS), and the Apex Committee of Special Economic Zones (SEZs) and Industrial Cooperation.

Outlook:

This visit is anticipated to inject positive momentum into the already flourishing bilateral cooperation between Pakistan and Saudi Arabia. Both nations are poised to leverage this opportunity to further deepen economic partnerships for mutual benefit.

Sarghoda Board Part 2 Roll No Slip 2024 PDF Download

Conclusion:

As the Saudi delegation touches down in Pakistan, the stage is set for constructive discussions and the advancement of economic initiatives that promise to bolster the longstanding relationship between the two countries. This visit signifies a significant step forward in realizing the shared vision of enhanced cooperation and prosperity.

Leave a Reply

Your email address will not be published. Required fields are marked *