ISLAMABAD: Saudi Foreign Minister Prince Faisal bin Farhan Al Saud called on Prime Minister Muhammad Shehbaz Sharif on Tuesday, aimed to enhance economic cooperation between Pakistan and the Kingdom of Saudi Arabia to enhance economic cooperation.
Both sides have agreed to expedite the initial phase of a planned $5 billion investment package from Saudi Arabia to Pakistan. The two sides reiterated their commitment to strengthening the bilateral relations focused on mutually beneficial economic cooperation, the Prime Minister’s Office said in a statement.
The high-level Saudi delegation, led by the Saudi Foreign Minister, arrived in Pakistan on a two-day visit essentially to follow up on the understanding reached between Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammad bin Salman during their recent meeting in Makkah to enhance bilateral economic cooperation.
READ MORE: Saudi Foreign Minister to arrive Pakistan today for bilateral economic talks
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.
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.
“PM Shehbaz 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 statement said.
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.
The Prime Minister 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.
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