Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan will arrive in Pakistan on Monday on a two-day visit aimed at enhancing bilateral economic cooperation between the two countries, the Pakistani foreign office said.
Prince Faisal will be leading a high-level Saudi delegation, comprising the Kingdom’s minister of water and agriculture, minister of industry and mineral resources, deputy minister of investment, and senior officials from the Saudi energy ministry and the Saudi Fund for General Investments, according to the Pakistani foreign office.
The visit takes place essentially to expedite follow up on an understanding reached between Prime Minister Shehbaz Sharif and Crown Prince Mohammed bin Salman during their recent meeting in Makkah to enhance bilateral economic cooperation between Pakistan and Saudi Arabia.
“The Saudi delegation is expected to hold meetings with the President, the Prime Minister, the Foreign Minister and counterpart Ministers, COAS, Apex Committee of SIFC (Special Investment Facilitation Council (SIFC),” the foreign office said in a statement on Sunday.
“This visit is aimed at lending positive impetus to enhanced bilateral cooperation and mutually rewarding economic partnership.”
The development comes days after Pakistan and Saudi Arabia reaffirmed their commitment to expedite an investment package worth $5 billion discussed previously, following the meeting between PM Sharif and the Saudi Crown Prince.
“The discussions centered on fortifying the fraternal relations between the two brotherly nations and exploring avenues for enhanced collaboration across various sectors,” read a joint statement issued by the Pakistani foreign office, a day after the meeting. “Emphasis was placed on the Kingdom’s supportive role in Pakistan’s economy and the mutual desire to strengthen trade and investment ties. Both parties affirmed their commitment to expediting the first wave of investment package worth $ 5 billion which was discussed previously.”
Cash-strapped Pakistan desperately needs to shore up its foreign reserves and signal to the International Monetary Fund (IMF) that it can continue to meet requirements for foreign financing that has been a key demand in previous bailout packages. Pakistan and Saudi Arabia enjoy strong trade, defense and cultural ties. The Kingdom is home to over 2.7 million Pakistani expatriates and serves as the top source of remittances to the cash-strapped South Asian country.
Saudi Arabia has also often come to cash-strapped Pakistan’s aid by regularly providing the South Asian country oil on deferred payment facilities and offering direct financial support to help stabilize its economy and shore up its foreign exchange reserves.
Nguồn bài viết : SOI KÈO BÓNG ĐÁ
