ISLAMABAD: Prime Minister Shehbaz Sharif departed today for a two-day official visit to Saudi Arabia, where he will participate in the 8th Edition of the Future Investment Initiative (FII) meeting in Riyadh. He is accompanied by Finance Minister Muhammad Aurangzeb and Commerce Minister Jam Kamal.
The FII meeting will take place from October 29 to 30, as announced by the Ministry of Foreign Affairs. This initiative serves as a crucial platform for countries to showcase their economic strengths, attract foreign investments, and engage in discussions aimed at shaping a sustainable future.
Themed “Infinite Horizons: Investing Today, Shaping Tomorrow,” this year’s FII will focus on global investments addressing key issues such as artificial intelligence, robotics, education, energy, space, finance, healthcare, and sustainability.
During his visit, PM Shehbaz is expected to hold significant bilateral talks with Saudi Crown Prince and Prime Minister Mohammed bin Salman, as well as other key officials. Discussions will revolve around enhancing the economic and strategic partnership between Pakistan and Saudi Arabia, particularly in the areas of economy, energy, and defense.
The Prime Minister will also engage with leaders and entrepreneurs attending the FII conference. Pakistan and Saudi Arabia share a longstanding relationship, with cooperation spanning culture, economy, trade, and defense.
Earlier this month, the two nations signed 27 memorandums of understanding (MoUs) worth $2.2 billion across various sectors during a three-day official visit by Saudi Minister for Investment Sheikh Khalid Bin Abdul Aziz Al Faleh to Islamabad.
Saudi Arabia has historically supported Pakistan during economic crises, playing a critical role last June when it deposited $2 billion in the State Bank of Pakistan to help the country secure a $3 billion bailout package from the International Monetary Fund (IMF).