Saudi Arabia is increasing its $5 billion investment in Pakistan even further
In a joint statement published on Monday by the Ministry of Foreign Affairs’ office of the Spokesperson, the Kingdom of Saudi Arabia reaffirmed its commitment to expedite the first phase of their $5 billion investment in Pakistan.
According to the statement, Prince Mohammed bin Salman bin Abdulaziz Al Saud, the Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, received a visit from Prime Minister Shehbaz Sharif on Sunday at Al-Safa Palace in Makkah Al-Mukarramah.
According to the handout, all sides reaffirmed their commitment to moving quickly to complete the $5 billion first wave of the investment package that was previously planned.
The importance of the Kingdom’s assistance to Pakistan’s economy and the shared goal of enhancing trade and investment relations were highlighted during the discussion.
The handout stated that the PM Shehbaz thanked the Saudi crown prince for taking office and wished him well during his term. In turn, the prince thanked PM Shehbaz for the kingdom’s unwavering support and hospitality and reiterated his commitment to strengthening bilateral ties and economic cooperation.
The talks focused on strengthening the brotherly ties between the two countries and looking at ways to further cooperation in a number of areas.
The kingdom’s assistance to Pakistan’s economy and the shared goal of enhancing trade and investment links were highlighted during the meeting. Both sides reaffirmed their commitment to moving quickly to complete the $5 billion first wave of the investment package that was previously negotiated.
The leaders also discussed matters of mutual interest, such as the concerning state of affairs in Gaza, and discussed regional and international trends. They emphasized the need for the international community to put pressure on Israel to end hostilities, uphold international law, and allow unrestricted access for humanitarian aid to Gaza. They also called for international efforts to stop Israeli military operations in Gaza and lessen their negative humanitarian effects.
In addition to the Arab Peace Initiative, which aims to find a fair and comprehensive solution for the establishment of an independent Palestinian state with East Jerusalem as its capital, they talked about the necessity of advancing the peace process in accordance with pertinent Security Council and General Assembly resolutions.
In order to maintain peace and security in the area, the two parties emphasized the significance of communication between Pakistan and India in order to settle the lingering issues between the two nations, particularly the Jammu and Kashmir conflict.
The crown prince was extended an invitation by Premier Shehbaz to make an official visit to Pakistan as soon as possible, and MBS agreed, as stated in the official announcement.
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