Prime Minister holds talks with Crown Prince in Riyadh, Saudi Arabia, to invest in CPEC-related projects
ISLAMABAD:
Saudi Arabia has reaffirmed its commitment to deepening ties with Pakistan, with the two countries agreeing to a long-term economic partnership that will see Riyadh participate in various development projects, including those related to the China-Pakistan Economic Corridor (CPEC).
Reportedly, Saudi Arabia will invest in Pakistan’s infrastructure, including the construction of dams and power transmission lines. The agreement also envisages the creation of a joint business council to strengthen collaboration between the private sectors of the two countries.
This agreement was reached during a meeting between Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman in Riyadh, during which the discussions took place in a cordial and constructive atmosphere.
Deputy Prime Minister and Foreign Minister Ishaq Dar, Field Marshal Syed Asim Munir, Chief of Army Staff and senior members of the cabinets of both countries attended the meeting. Issues of mutual interest and regional cooperation were also discussed.
After the meeting, Prime Minister Shehbaz expressed his appreciation in a message on »
He added: “We reaffirmed the enduring strength of brotherly ties between Pakistan and Saudi Arabia and discussed ways to further expand this historic and time-tested partnership in trade, investment and economic cooperation.”
The Prime Minister also expressed gratitude for the Crown Prince’s continued support, saying he remained “deeply grateful for His Royal Highness’s personal commitment and strong support to advance our shared vision of deeper collaboration and prosperity for our two nations and people.”
Shehbaz arrived in Riyadh on Monday at the special invitation of the Crown Prince to attend the 9th conference of the Future Investment Initiative (FII). Upon arrival at King Khalid International Airport, he and his delegation were warmly welcomed by Riyadh Deputy Governor Prince Mohammed bin Abdulrahman bin Abdulaziz, Saudi Ambassador to Pakistan Nawaf bin Saeed Al-Maliki and Pakistan Ambassador to Saudi Arabia Ahmed Farooq.
The Prime Minister is accompanied by Deputy Prime Minister and Foreign Minister Ishaq Dar, Finance Minister Muhammad Aurangzeb, Information Minister Attaullah Tarar and Special Assistants Tariq Fatemi and Bilal bin Saqib.
During his visit, Shehbaz Sharif will represent Pakistan at the high-profile FII conference, which brings together global investors, policymakers and business leaders. He is also expected to hold bilateral meetings with world leaders and heads of international organizations on the sidelines of the event.
(With contribution from APP)
