Islamabad, Riyadh need to expedite first phase of Saudi investments, says PM Shehbaz

Islamabad, Riyadh need to expedite first phase of Saudi investments, says PM Shehbaz

Islamabad (Web Desk): Prime Minister Shehbaz Sharif on Tuesday said that Pakistan and Saudi Arabia should work closely to expedite the first phase of Saudi investments in Pakistan under the new arrangement.

He was talking to a high-level Saudi delegation led by Foreign Minister Prince Faisal bin Farhan Al Saud in Islamabad on Monday.

PM Shehbaz expressed Pakistan's desire to further enhance bilateral cooperation with Saudi Arabia in the fields of trade and investment.

He said that the visit of Saudi delegation marks beginning of a new era of strategic and commercial partnership between the two countries.

The prime minister said the visit of Saudi delegation immediately after his visit to Saudi Arabia is a manifestation of strong commitment of both countries to strengthening of bilateral relations.

Shehbaz Sharif highlighted the steps being taken by the government of Pakistan to promote foreign investment and achieve mutually beneficial partnerships with brotherly countries.

He informed the delegation about the Special Investment Facilitation Council (SIFC) and key role of Chief of Army Staff (COAS) General Syed Asim Munir and the cooperation of all institutions for promotion of investment in the country, the Radio Pakistan reported.

The prime minister especially mentioned the wide potential of investment in Pakistan.

PM Shehbaz expressed gratitude to the Saudi leadership for increasing investment footprint in Pakistan.

Noting that the two countries enjoy an unprecedented brotherly relationship, the premier said that the two countries stood together in all times.

PM Shehbaz conveyed his best wishes to the Saudi leadership, Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and Prince Muhammad Bin Salman Al Saud.

The prime minister also extended invitation to Saudi Crown Prince Muhammad bin Salman to visit Pakistan and said the people of Pakistan look forward to this visit.

On the occasion, the Saudi Foreign Minister reiterated the resolve to strengthen Pakistan-Saudi Arabia relations and further promote trade and investment partnership.

He also conveyed the Kingdom’s commitment to an enhanced strategic and economic partnership with Pakistan.

The meeting also deliberated on promotion of cooperation and investment in various fields between the two countries.

The deteriorating situation of the occupied Palestinian territories also came up during the meeting.

Led by Foreign Minister Prince Faisal bin Farhan, the high-level Saudi delegation arrived in the federal capital on Monday on a two-day visit essentially to expedite follow-up on the understanding reached between PM Shehbaz and Saudi Crown Prince Mohammad bin Salman during their recent meeting in Makkah Al Mukarramah to enhance bilateral economic cooperation.