ISLAMABAD: Prime Minister Shehbaz Sharif has on Wednesday departed for a four-day official go to to Saudi Arabia to strengthen bilateral ties, improve financial cooperation, and promote funding between the 2 international locations.
In keeping with a press launch issued by Prime Minister’s Workplace (PMO), Deputy Prime Minister and International Minister Senator Ishaq Dar, key federal ministers and senior officers accompanied the prime minister.
Throughout the go to, the prime minister is scheduled to fulfill Saudi Crown Prince and Prime Minister Mohammed bin Salman whereby the 2 leaders will focus on methods to spice up commerce, improve partnership in key sectors and facilitate higher financial collaboration.
Issues of mutual curiosity and concern, together with world and regional developments, significantly the Gaza scenario, evolving Center East dynamics, in addition to points associated to the Muslim Ummah, will determine excessive on the agenda.
The prime minister’s go to underscores the deep-rooted historic relations between Pakistan and Saudi Arabia and can pave the best way for elevated mutual understanding, enhanced cooperation in commerce, funding and higher diplomatic coordination on bilateral, regional and world issues.
The premier’s go to is available in response to the invitation by the Saudi crown prince with The Information reporting that the previous would avail the chance to spend just a few days in Makkah and Madina and would additionally the coastal metropolis Jeddah the place he would meet King Salman bin Abdul Aziz.
It’s to be famous that the PM, again in October 2024, had visited the Kingdom to take part within the eighth version of the Future Funding Initiative (FII), held below the patronage of King Salman.
The identical month, Islamabad and Riyadh had inked a number of memorandums of understanding (MoUs), price over $2 billion, to spice up bilateral commerce and funding through the Islamabad go to of a Saudi delegation, headed by Minister for Funding Khalid bin Abdulaziz Al-Falih.
The agreements embody a $70 million funding within the agriculture sector, the institution of superior semiconductor chip manufacturing in Saudi Arabia, the institution of a textile trade, a white oil pipeline challenge, an MoU for exploring funding alternatives, a hybrid energy challenge, improvement of transformer manufacturing amenities in each the international locations, cyber safety measures for patrons and companies, and the export of spices and greens from Pakistan.