Saudi Foreign Minister Prince Faisal bin Farhan Al Saud on Tuesday called on Prime Minister Muhammad Shehbaz Sharif, wherein the two sides reiterated their commitment to strengthening the bilateral relations focused on mutually beneficial economic cooperation.
Led by Foreign Minister Prince Faisal bin Farhan, the high-powered Saudi delegation arrived here Monday on a two-day visit essentially to expedite follow-up on the understanding reached between Prime Minister Muhammad Shehbaz Sharif and Saudi Crown Prince Mohammad bin Salman during their recent meeting in Makkah Al Mukarramah to enhance bilateral economic cooperation.
Recalling his warm and productive meeting with the Saudi crown prince, the prime minister said that the Saudi delegation’s visit after his trip was a manifestation of the strong commitment of both countries to the strengthening of bilateral relations focused on mutually beneficial economic cooperation, according to a PM Office press release.
In this regard, he said that both sides needed to work closely to expedite the first phase of Saudi investments in Pakistan under the new arrangement.
During the meeting, the prime minister expressed his deep appreciation for the Saudi leadership and conveyed his sincerest wishes to the Custodian of the Two Holy Mosques King Salman bin Abdul Aziz Al Saud and Crown Prince Mohammed bin Salman bin Abdul Aziz Al Saud.
Prime Minister Shehbaz underscored the significance accorded by Pakistan to its longstanding fraternal, economic and strategic relations with Saudi Arabia and said that both countries had always stood together at all times.
He informed the delegation about the Special Investment Facilitation Council (SIFC) and its initiatives to promote investment in Pakistan. He also highlighted the key role of Chief of the Army Staff General Syed Asim Munir and the cooperation of all institutions for the promotion of investment in the country through SIFC.
The Saudi foreign minister expressed gratitude for the warm welcome accorded to his delegation and highlighted that Saudi Arabia attached high importance to its strong and close ties with Pakistan.
He also conveyed the Kingdom’s commitment to an enhanced strategic and economic partnership with Pakistan. The escalating situation in the occupied Palestinian Territories was also discussed.
The Saudi delegation visit is taking place to expedite action on the understanding reached between Prime Minister Shehbaz Sharif and Saudi Arabia Crown Prince and Prime Minister Mohammad bin Salman, during their recent meeting in Makkah to enhance bilateral economic cooperation.
The visit is anticipated to provide a significant boost to bilateral cooperation and foster a mutually beneficial economic partnership between the two nations.
Pakistan is hoping to attract billions of dollars in investment from Saudi Arabia as part of its initiative under the banner of the Special Investment Facilitation Council (SIFC), a civil-military forum aimed at removing bottlenecks and other bureaucratic hurdles hindering foreign investment.
In recent visit to the Kingdom, PM Shehbaz and Crown Prince Mohammed Bin Salman agreed to expedite the first wave of a planned $5 billion investment package for Pakistan.
