Saudi Arabia, Pakistan Strengthen Economic Ties With $5bn Investment Package


Following their meeting in Makkah, Saudi Crown Prince Mohammed bin Salman and Pakistan’s Prime Minister Mohammed Shahbaz Sharif highlighted the Kingdom’s pivotal role in bolstering the Pakistani economy and underscored their joint commitment to enhancing trade and investment relations.

Both leaders reaffirmed their dedication to swiftly implementing Saudi Arabia’s $5 billion investment package in Pakistan, marking the first wave of collaborative economic endeavors, the Saudi Press Agency reported on Monday.

Discussions centered on avenues for intensified cooperation across diverse sectors, emphasizing Saudi Arabia’s crucial support in fortifying the Pakistani economy and fostering reciprocal trade and investment ventures.

Addressing regional and global concerns, including the Jammu and Kashmir dispute, the leaders stressed the significance of dialogue between Pakistan and India to resolve outstanding issues and ensure regional stability.

Both leaders also addressed the situation in the Gaza Strip, urging international action to halt Israeli military operations and mitigate humanitarian consequences. They emphasized the importance of adherence to international law and unhindered access to humanitarian aid for people in Gaza.

They advocated for the implementation of relevant UN Security Council and General Assembly resolutions, including the Arab Peace Initiative aimed at establishing an independent Palestinian state with East Jerusalem as its capital.

Crown Prince Mohammed bin Salman received Prime Minister Shehbaz Sharif at the Al-Safa Palace in Makkah on Sunday.

The meeting was held in the presence of Bahrain’s Crown Prince Salman bin Hamad Al-Khalifa, and both officials had iftar with the Kingdom’s crown prince.

Sharif was dressed in the ihram, indicating that he will perform Umrah while in Makkah.

Arab News

Arab News is Saudi Arabia's first English-language newspaper. It was founded in 1975 by Hisham and Mohammed Ali Hafiz. Today, it is one of 29 publications produced by Saudi Research & Publishing Company (SRPC), a subsidiary of Saudi Research & Marketing Group (SRMG).

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