The Foreign Office has confirmed that Saudi Investment Minister Khalid bin Abdulaziz Al-Falih will be visiting Pakistan on Wednesday, bringing with him a high-level delegation to strengthen bilateral cooperation.
The delegation will include representatives from both Saudi government agencies and the private sector, and the three-day visit (from October 9 to October 11) is expected to focus on boosting economic ties between the two countries. According to Foreign Office spokesperson Mumtaz Zahra Baloch, the Saudi delegation will meet with Prime Minister Shehbaz Sharif, President Asif Ali Zardari, and other senior Pakistani officials.
She said the discussions are expected to cover a range of topics, including investment opportunities, trade, and other areas of economic collaboration. Pakistan and Saudi Arabia have been working closely to increase cooperation in trade and investment. Earlier this year, Saudi Crown Prince Mohammed bin Salman reaffirmed the kingdom’s commitment to fast-track a $5 billion investment package for Pakistan.
Ever since coming into power, Shehbaz-led government has been seeking stronger foreign partnerships, especially with brotherly countries, to stabilize its economy. The country has increasingly approached regional partners, especially those in the Middle East, to secure mutually beneficial economic deals.
Furthermore, considering Saudi Arabia’s regional influence and economic strength, Islamabad hopes the Saudi delegation’s upcoming visit will help boost Pakistan’s economic recovery through foreign direct investment and trade. These partnerships will provide much-needed financial support and trade opportunities to Pakistan.
It may be mentioned here that Pakistan is also set to host the 23rd meeting of the Council of the Heads of Government of the Shanghai Cooperation Organisation (SCO) next week. Mongolia will be participating as an observer, while Turkmenistan has been invited as a special guest. The event will also see participation by various international organizations, such as the Conference on Interaction and Confidence Building Measures in Asia and the Commonwealth of Independent States.
The government is expected to use the platform to increase cooperation with various countries in fields like economy, trade, and sociocultural linkages. Other than highlighting diplomatic efforts, the foreign office spokesperson also talked about the recent terrorist attack near Karachi’s airport that resulted in the deaths of two Chinese engineers and the injury of another.