April 16, 2024
ISLAMABAD – A Saudi delegation, led by Foreign Minister Prince Faisal bin Farhan Al Saud, landed in Pakistan on Monday for a two-day visit.
The delegation arrived at Rawalpindi’s Nur Khan Airbase and was received by Foreign Minister Ishaq Dar.
The delegation also comprises Saudi Minister of Water and Agriculture Abdul Rahman Abdul Mohsen Al-Fadley, Minister of Industry and Mineral Resources Bandar Ibrahim Al Khorayef, Deputy Minister of Investment Badr Al Badr, the head of Saudi Special Committee, Mohammad Mazyed Al Towaijri and senior officials from Ministry of Energy and Saudi Fund for General Investments.
The visit is expected to expedite action on the understanding reached between Prime Minister Shehbaz Sharif and Saudi Crown Prince and Prime Minister Mohammad bin Salman, during their recent meeting in Makkah to enhance bilateral economic cooperation.
The two had agreed to expedite the first wave of a planned $5 billion Saudi investment package for Pakistan.
The Saudi team is expected to hold meetings with the president, the prime minister, the foreign minister, counterpart ministers, the army chief and the Special Investment Facilitation Council (SIFC).
A statement issued by state-run Pakistan Television said the timing of the visit was “very important” and the Saudi team’s arrival itself is a “manifestation of mental harmony, mutual trust and cooperation between the leadership of both countries and the same determination for the development of both countries”.
It said the delegation will consult on the next stages of investment and issues related to implementation.
The statement said export capacity will increase, joint ventures will be launched, new opportunities will be paved and the achievement of the SIFC’s objectives will be advanced, along with bringing more speed and confidence to the economy.
“The diplomatic isolation that Pakistan suffered in the last few years has come to an end.
“A new closeness, innovation and warmth is being seen in Pakistan’s relations with its always reliable and brotherly countries, especially Saudi Arabia.”