ISLAMABAD: Pakistan and Saudi Arabia have affirmed their commitment to expediting the first wave of an investment package worth $5 billion and also emphasised the Kingdom’s supportive role in Pakistan’s economy and the mutual desire to strengthen trade and investment ties.
The understanding was reached during an official meeting of Prime Minister Shehbaz Sharif with Saudi Crown Prince Mohammad bin Salman that took place at Al-Safa Palace in Makkah Al-Mukarramah on 7 April 2024, according to a joint statement issued here on Monday. It stated that the discussions centred on fortifying the fraternal relations between the two brotherly nations and exploring avenues for enhanced collaboration across various sectors.
“Emphasis was placed on the Kingdom’s supportive role in Pakistan’s economy and the mutual desire to strengthen trade and investment ties. Both parties affirmed their commitment to expediting the first wave of investment package worth $5 billion which was discussed previously,” read the joint statement.
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Both leaders also exchanged views on regional and global developments of mutual interest, including the worrying situation in Gaza.
They urged for international efforts to halt Israeli military operations in Gaza, mitigate humanitarian impact and underscored the imperative for the international community to pressure Israel to cease hostilities, adhere to international law, and facilitate unhindered humanitarian aid access to Gaza.
The two leaders also discussed the need for advancing the peace process in accordance with relevant resolutions of the Security Council and the General Assembly as well as the Arab Peace Initiative aimed at finding a just and comprehensive solution, for the establishment of an independent Palestinian state with East Jerusalem as its capital.
According to the joint statement, the two sides stressed the importance of dialogue between Pakistan and India to resolve the outstanding issues between the two countries, especially the Jammu and Kashmir dispute to ensure peace and stability in the region. At the outset, the Crown Prince extended his congratulations to Prime Minister Shehbaz Sharif on assuming office and expressed warm wishes for his tenure.
Prime Minister Shehbaz, in turn, conveyed gratitude for the Kingdom’s steadfast support and hospitality and reaffirmed Pakistan’s commitment to bolstering bilateral ties and economic cooperation.
The prime minister also invited the Crown Prince to undertake an official visit to Pakistan, at the earliest convenience, which was accepted by the Crown Prince, according to the statement.
During his visit to Saudi Arabia from April 6-8, the prime minister also performed Umrah and offered Nawafil at Masjid-al Haram. Doors of Baitullah were specially opened for the prime minister and his delegation.
On the occasion, the prime minister prayed for the development and prosperity of the country and the unity of the Muslim Ummah.
He also prayed for the Muslims around the world, especially the oppressed Muslims of Palestine and Indian Illegally Occupied Jammu and Kashmir (IIOJK).
The prime minister was accompanied by Foreign Minister Ishaq Dar, Defence Minister Khawaja Asif, Finance Minister Mohammad Aurangzeb, Minister for Information Atta Tarar, and Economic Affairs Ahad Cheema.
Punjab Chief Minister Maryam Nawaz and his son Hamza Shehbaz were also among the members of the prime minister’s delegation.
Copyright Business Recorder, 2024