ISLAMABAD: Prime Minister Shehbaz Sharif is scheduled to visit Riyadh from December 3 to 4 to attend the “One Water Summit,” the Foreign Office (FO) confirmed on Monday.
Pakistan and Saudi Arabia enjoy a long history of strong, friendly relations, marked by cooperation in areas such as trade, culture, defense, and economy. This trip will be the prime minister’s fifth visit to the Kingdom in 2024.
The summit, a collaborative initiative led by Saudi Arabia, France, Kazakhstan, and the World Bank, aims to encourage global partnerships and promote a unified approach to managing water resources. At the event, PM Shehbaz is expected to deliver a keynote address at a roundtable focused on the restoration, preservation, and adaptation of freshwater resources and wetlands.
In his address, the prime minister will also shed light on Pakistan’s efforts to conserve water, boost climate resilience, improve water quality, and promote biodiversity. He will emphasize the critical need for international collaboration in addressing challenges caused by climate-induced flooding, unpredictable weather patterns, and heat stress on water resources and ecosystems.
Additionally, the prime minister will call for effective global cooperation to ensure sustainable water management practices. On the sidelines of the summit, he is anticipated to engage in bilateral meetings and discussions with international leaders.
Earlier on the same day, PM Shehbaz expressed his satisfaction with the ongoing progress in joint ventures and investment projects between Pakistan and Saudi Arabia, commending the strong ties between the two nations.
Chairing a review session, the prime minister noted the growing collaboration between Pakistan and Saudi Arabia across various sectors, underscoring the strategic partnership that continues to flourish. He also acknowledged Saudi Arabia as a steadfast partner, especially during challenging times for Pakistan, and reaffirmed the commitment to further strengthen this collaboration.
A recent briefing revealed that the two countries had signed 34 memorandums of understanding (MOUs), with seven of them already formalized into agreements valued at $560 million.
This visit follows a series of recent engagements between the two countries. Earlier this month, PM Shehbaz attended the Arab-Islamic Summit in Riyadh, where he spoke out against Israeli aggression in Gaza, Lebanon, and Iran, and reiterated Pakistan’s support for the Palestinian people. In October, he attended the Future Investment Initiative (FII) in Riyadh, a major forum for promoting economic growth, foreign investment, and sustainable development.
During his first official visit to Saudi Arabia in April, PM Shehbaz and Crown Prince Salman discussed expediting the first phase of a planned $5 billion Saudi investment package for Pakistan. This initiative was seen as a key sign of Saudi Arabia’s unwavering support for Pakistan’s economy.
In May, when a Saudi delegation visited Pakistan, the prime minister assured them that the government would provide the best possible environment for Saudi investors, including ease of doing business under the Special Investment and Facilitation Council (SIFC).
The relationship between the two nations has been pivotal, especially in times of economic distress for Pakistan. Last year, in June, Saudi Arabia deposited $2 billion into Pakistan’s State Bank to help unlock a crucial $3 billion bailout package from the International Monetary Fund (IMF), a move that was instrumental in preventing Pakistan from defaulting on its debts.
