Pakistan army chief says agreements with Saudi Arabia, US, UAE to promote economic cooperation, investment
Pakistan has signed several agreements promoting trade, economic cooperation and bilateral investment with China, US, Saudi Arabia, the UAE and Central Asian Republics. Islamabad aims to ward off a prolonged macroeconomic crisis and escape a precarious balance of payment position, through foreign trade and investment, that has weakened the country's economy in recent years.
During Prime Minister Shehbaz Sharif's visit to the Kingdom in October 2024, Pakistan and Saudi Arabia signed 34 MoUs worth $2.8 billion, seven of which have since been converted into agreements valued at $560 million. Meanwhile, the UAE is Pakistan's third largest trading partner after China and the US, and last year pledged $10 billion in future investments in Pakistan's priority sectors.
Speaking to members of the Pakistani community in the US during his official visit to the country, Munir said Pakistan expects 'huge investment' due to a possible trade agreement with Washington.
'He said various Memoranda of Understanding (MoUs) are being implemented with the US, Saudi Arabia, the UAE and China, which will promote economic cooperation and investment,' state broadcaster Radio Pakistan reported on Sunday.
The Pakistan army chief also spoke about the ongoing crisis in the Middle East, warning it could have implications worldwide.
'Field Marshal Syed Asim Munir said the ongoing genocide in Gaza is a worst human tragedy that has serious implications at both the global and regional levels,' Radio Pakistan said.
Munir undertook a visit to the US in June this year, when he was invited to an unprecedented lunch by US President Donald Trump at the White House. The two discussed the then Israel-Iran military conflict and the days-long military confrontation between India and Pakistan which ended in a ceasefire on May 10.
The Pakistan army chief spoke about his second official visit to the US since June, saying it marked 'a new dimension' in Islamabad's ties to Washington. 'He said the aim of these visits is to take the relations on a constructive, sustainable and positive trajectory,' the state broadcaster said.
He said Pakistan is 'extremely grateful' to US President Donald Trump, saying that his strategic leadership not only stopped the India-Pakistan war but also prevented many wars in the world.
Munir blamed India's premier intelligence agency, the Research and Analysis Wing (RAW), for being involved in 'transnational terrorist activities.' He pointed to the arrest of former Indian navy officials by Qatar in 2023, who were reportedly arrested for allegedly spying for Israel. He also cited the killing of Sikh separatist leader Hardeep Singh Nijjar in Canada in June 2023, whose killing sparked a diplomatic crisis between Ottawa and New Delhi after former Canada PM Justin Trudeau cited evidence of Indian government involvement.
'He said the Indian aggression has brought the region to the brink of a dangerously flaming war, where any mistake, leading to a bilateral conflict, would be a huge mistake,' the state broadcaster's report said.
The Pakistan army chief arrived in the US last week to attend the retirement ceremony of the outgoing US Central Command (CENTCOM) chief and held meetings with senior American political and military leaders, the Pakistani military's media wing said on Sunday.
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