Islamabad: April 15, 2024: Pakistan is eagerly waiting to welcome Saudi delegation arriving Islamabad on Tuesday. Saudi top level delegation is being led by its foreign minister , Faisal bin Farhan Al Saud, is expected to have broader discussions during its stay in Pakistan. Pakistan is offering many key areas to Saudi Arabia and it expects Saudi investment in Oil and Gas, Mining, IT , petro chemical and agriculture sector.
Pakistan’s prime minister, Shahbaz Sharif , had held discussions with Saudi Crown Prince , Muhammad Bin Salman (MBS) and invited Saudi Arabia to invest in Pakistan. Following this high level meeting, a joint statement issued by the Saudi government had confirmed that Saudi Arab is going to expedite the process of investment in Pakistan. Saudi Arabia had hinted at investing in an oil refinery project some two years ago ,but this offer is yet to be materialized . Saudi Arabia seems interested in investing in Pakistan’s Reko Diq project. Reko Diq project is at an advance stage and Pakistan is looking for some investor for this project. Pakistani can offer seek Saudi investment in other areas like civil aviation and agriculture. Pakistan’s national airline carrier –PIA—may be also one of the projects for which Pakistan can seek Saudi investment.
An official curtain raiser issued by government of Pakistan said a high-level Saudi delegation, led by Foreign Minister Prince Faisal bin Farhan bin Abdullah, will visit Pakistan from 15 to 16 April 2024. The delegation consists of Saudi Minister of Water and Agriculture, Eng Abdul Rahman Abdul Mohsen Al-Fadley; Minister of Industry and Mineral Resources, Bandar Ibrahim AlKhorayef; Assistant Minister of Investment, Ibrahim Yousef i AlMubarak; Head of Saudi Special Committee, Mohammad Mazyed Al Towaijri; and senior officials from Ministry of Energy and Saudi Public Investment Fund.
The visit takes place essentially to expedite follow up on the understanding reached between Prime Minister Muhammad Shehbaz Sharif and HRH Mohammad bin Salman, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia during their recent meeting in Makkah Al Mukarramah to enhance bilateral economic cooperation between Pakistan and Saudi Arabia.
The Saudi delegation is expected to hold meetings with the President, the Prime Minister, the Foreign Minister and counterpart Ministers, COAS, Apex Committee of SIFC.
This visit is aimed at lending positive impetus to enhanced bilateral cooperation and mutually rewarding economic partnership
