Moving over to investment

Saudis come visiting

Saudi Arabia and Pakistan are important founding members of the Organization of Islamic Cooperation (OIC) and both have very brotherly, friendly and committed relations. Saudi Arabia has a quite appreciable history of helping Pakistan in its every difficult situation, be it floods devastation, war situation, petrol shortage problem or economic and financial crisis topped by threat of default. The people and the government of Pakistan in every difficulty have looked towards Saudi Arabia and they have never  been disappointed as the requested and required help and assistance every time comes as soon as possible.

The country would be hoping that following the Saudi delegations’ visits, PM Shehbaz Sharif’s  two visits to Saudi Arabia and holding of important deliberations there with the Saudi Crown Prince  and positive indications by  Saudi delegations topped by expected upcoming visit of Crown Prince Mohammad bin Salman, all augurs well in furtherance of robust partnership in the best interests of both the countries

Brotherly bilateral relations between the two countries are gaining strength and being promoted  as mutually beneficial as high level delegations exchanges  are taking place  quite frequently .

This continued as  high level Saudi delegations visited Pakistan in April 2024 one after the other following and before the  visits of Prime Minister Mohammad Shehbaz Sharif,  particularly after his assuming the high office  for the second time following the February 2024 general elections in the country.

PM Shehbaz Sharif visited  Saudi Arabia in the  first week of April  to perform umra. Committed and sincere friend of  Pakistan and its people, Saudi Crown Prince Mohammad bin Salman especially came to Makkah from Riyadh and held important meetings with him. After due deliberations, they reached  some understanding as to  how to boost brotherly relations further and help Pakistan overcome  its prevailing economic and financial crisis.

In quick succession to the PM’s visit, a  high level Saudi Arabia delegation, headed by Foreign Minister.Prince Farhan bin Faisal, visited Pakistan within a week, obviously under special instructions from the Saudi Crown Prince.. The delegation included Ministers and senior officials concerning investment , energy, agriculture and other sectors and they held  a series of meetings with their counterparts in a positive and productive manner.

The acceleration in strengthening of  existing very warm brotherly relations between two countries continued as PM Shehbaz Sharif  paid a three-day official visit to Saudi Arabia towards the end of last month  to attend the World Economic Forum’s Special Meeting on “Global  Collaboration Growth and Energy for Development” in Riyadh along with a delegation comprising  Federal Ministers Muhammad Ishaq Dar, Muhammad Aurangzeb and others at the invitation of the Saudi Crown Prince

He availed the opportunity so offered,held another important meeting with the host Saudi Crown Prince, thanked him for sending a high level delegation to Pakistan and told him that  he has brought with him some federal ministers for holding follow-up meetings.

Then in the first week of May 2024, a 50-member strong Saudi delegation of investors and businessmen  representing  30 companies paid a two-day visit  to Islamabad to attend a specially organized Pak-Saudi Investment  Conference.

It was at this conference, leader of the visiting Saudi delegation Deputy Investment  Ibrahim Almubarak quite categorically  expressed  his country’s keen interest  in Pakistan’s economic  potential,  saying that the Saudi government   and companies considered Pakistan a high priority economic, investment  and business opportunity. Citing  the strategic partnership  of his country with Pakistan, he highlighted the strong fraternal  ties rooted in shared faith, culture and values between the two countries.. He also underscored  Saudi Arabia’s firm belief  in Pakistan’s demographic  advantage, strategic location and abundant  natural resources adding  that they wanted to see Pakistan  as one of their leading  international partners.

The occasion also afforded the visiting Saudi delegation  to hold meetings  with  70 leading investors and businessmen of the host country.

The Saudi delegation afterwards returned home without offering comments and impressions after the conclusion of  the Conference.. They were most  likely to brief the Saudi Crown Prince about their visit and recommendations following their meetings held in Islamabad .

Pakistan was now keenly forward to an expected  visit by Saudi Crown Prince  and Prime Minister Mohaammad bin Salman, in the coming weeks hopefully, after about  five years During the upcoming visit of the Saudi Crown Prince, agreements and Memorandums of Understanding in the range of $5 billion  to $10 billion are to be unveiled, boosting Saudi investment in  different sectors  here. Needless to mention here Saudi Arabia was quite appreciative of a welcome and positive shift in Pakistan policies indicating shifting to investment , both  foreign and local, and discarding aid and loans as early as  possible.

PM Shehbaz Sharif, while commenting on the quite successful visit of the  Saudi investors and businessmen delegation   was reported to have termed the visit as a significant headway in the existing brotherly relations between the two countries.

The country would be hoping that following the Saudi delegations’ visits, PM Shehbaz Sharif’s  two visits to Saudi Arabia and holding of important deliberations there with the Saudi Crown Prince  and positive indications by  Saudi delegations topped by expected upcoming visit of Crown Prince Mohammad bin Salman, all augurs well in furtherance of robust partnership in the best interests of both the countries.

Muhammad Zahid Rifat
Muhammad Zahid Rifat
The writer is Lahore-based Freelance Journalist, Columnist and retired Deputy Controller (News) , Radio Pakistan, Islamabad and can be reached at [email protected]

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