Pakistan PM embarks on two-day Saudi Arabia visit to bolster bilateral ties
ISLAMABAD: Pakistani Prime Minister Shehbaz Sharif departed on Thursday on a two-day official visit to Saudi Arabia at the invitation of Crown Prince and Prime Minister Mohammed bin Salman to strengthen bilateral relations between the two longstanding allies, the premier's office said.
During his stay on June 5 and 6, Sharif will celebrate Eid Al-Adha in the Kingdom and hold a bilateral meeting with Crown Prince Mohammed bin Salman. The discussions are expected to focus on enhancing cooperation in trade, investment and regional security.
'The two leaders will discuss ways to further strengthen bilateral cooperation in various fields, including trade and investment, welfare of the Muslim Ummah, and regional peace and security,' according to a statement from the Prime Minister's Office.
Sharif is also expected to express gratitude to the Saudi leadership for their role in de-escalating recent tensions between Pakistan and India.
Last month, following the worst military confrontation between India and Pakistan in decades, Saudi Arabia, along with other Gulf nations, played a key role in mediating between the two nuclear-armed neighbors, helping to avert a potential war.
The visit also comes amid deepening economic ties between Pakistan and Saudi Arabia. In recent months, the two countries have signed multiple agreements aimed at boosting bilateral trade and investment. Notably, Saudi Arabia has committed to a $5 billion investment package to support Pakistan's economy, which has been grappling with a balance of payments crisis.
Last year, Saudi and Pakistani businessmen signed 34 memorandums of understanding worth $2.8 billion, covering sectors such as industry, technology, and agriculture. Additionally, Saudi Arabia's Manara Minerals is in talks to acquire a 10-20 percent stake in Pakistan's $9 billion Reko Diq copper and gold mining project, one of the largest of its kind globally.
Defense cooperation is also a key component of the bilateral relationship. The two nations have a history of military collaboration, with Saudi Arabia providing support to Pakistan during times of regional tension and Pakistan training Saudi forces.
Pakistan has a 2.7 million-strong diaspora in Saudi Arabia, which accounts for the highest remittance inflow, a crucial lifeline for the country's economy.
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