Pakistan PM Shehbaz Sharif Visits Saudi Arabia, Strengthening Bilateral Ties

Prime Minister Shehbaz Sharif of Pakistan recently concluded a three-day visit to Saudi Arabia, where he held meetings with Crown Prince Mohammed bin Salman and other Saudi officials. The visit aimed to strengthen the bilateral relations and economic partnership between the two countries.

During the meetings, PM Sharif and Crown Prince Mohammed bin Salman agreed to further enhance cooperation across various sectors and discussed shared interests, including Saudi efforts to encourage investment in Pakistan. The two leaders expressed satisfaction over the progress made on decisions taken in their previous meeting in Makkah. "The two leaders agreed to further increase cooperation in various sectors and expressed satisfaction over the progress made on previous decisions," according to a statement from the Prime Minister's Office.

PM Sharif thanked the Saudi Crown Prince for sending a high-level delegation to Islamabad and issuing directions for more delegations to visit Pakistan to promote investment. He also extended an invitation for the Crown Prince to visit Pakistan. The situation in Gaza was also discussed during the meetings, with PM Sharif firmly stating that world peace will continue to be unattainable until peace is established in the region.

Why this matters: The strengthening of Pakistan-Saudi relations has significant implications for both countries. Saudi Arabia is home to over 2.7 million Pakistani expatriates and is a major source of remittances for Pakistan. The two countries have been working to increase bilateral trade and investment, with Saudi Arabia recently reaffirming its commitment to an investment package worth $5 billion.

PM Sharif also addressed the World Economic Forum's Special Meeting on Global Collaboration, highlighting Pakistan's economic challenges. He met with the Saudi Minister of Commerce, Dr. Majid bin Abdullah Al-Qasabi, marking a new chapter in economic relations between Islamabad and Riyadh. The Saudi minister reaffirmed the Kingdom's commitment to bolstering trade and investment in Pakistan and hinted at an imminent visit by a Saudi business delegation to Pakistan.

The Prime Minister expressed appreciation to Crown Prince Mohammed bin Salman for his generous hospitality and affection for Pakistan. He recognized the efforts of Saudi ministers in ensuring the implementation of the understandings reached at the leadership level between both countries. "I am deeply grateful to the Custodian of the Two Holy Mosques, His Majesty King Salman bin Abdulaziz, and Crown Prince His Royal Highness Prince Mohammed bin Salman for their warm hospitality and support for Pakistan," PM Sharif stated.

The visit of Prime Minister Shehbaz Sharif to Saudi Arabia has further cemented the strong bilateral relations between the two countries. The agreement to enhance cooperation across various sectors and the upcoming visit of a Saudi business delegation to Pakistan are expected to accelerate the economic partnership between the two nations. As PM Sharif noted, the bilateral relations and economic ties have entered a new era, with the potential for significant growth in trade and investment in the coming years.

Key Takeaways

• PM Shehbaz Sharif concluded a 3-day visit to Saudi Arabia to strengthen bilateral ties.
• Leaders agreed to enhance cooperation across sectors and discussed shared interests, including investment.
• Saudi Arabia reaffirmed $5 billion investment package and committed to boosting trade with Pakistan.
• Saudi business delegation to visit Pakistan soon, signaling new chapter in economic relations.
• Visit further cemented strong bilateral relations with potential for significant growth in trade and investment.