State-run Radio Pakistan stated that Pakistan and Saudi Arabia reiterated their commitment to enhanced defense and security cooperation and the necessity of collaboration in resolving regional security issues on Thursday.
Saudi Arabia and Pakistan have a longstanding connection based on economic interests, strategic military collaboration, and Islamic history.
Economic, energy, and military cooperation have existed between Pakistan and Saudi Arabia, which supplies Pakistan with oil and financial aid.
Prime Minister Shehbaz Sharif began a four-day official visit to Jeddah on Wednesday to discuss economic cooperation with the Saudi rulers.
Today, Saudi Crown Prince Mohammed bin Salman (MBS) and PM Shehbaz met in Jeddah to discuss bilateral relations and collaboration.
PM Shehbaz tweeted on X: “Honoured to meet His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud in Jeddah today. We had a productive discussion on improving Pakistan-Saudi Arabia commerce, investment, energy, and security. Thanks His Royal Highness for the Kingdom’s ongoing support for Pakistan.
“Our enduring friendship and shared vision for prosperity is taking our bilateral relations to new heights and transforming it into a mutually beneficial economic partnership,” he said. “Praise His Royal Highness and the Kingdom for their pivotal role in Middle East and Ukraine peace efforts.”
Deputy Prime Minister and Foreign Minister Ishaq Dar, Chief of Army Staff General Asim Munir, Punjab Chief Minister Maryam Nawaz, federal ministers, and senior officials accompany the leader.
Pakistan and Saudi Arabia have strong and historic relations, and the summit focused on boosting cooperation in economics, trade, investment, energy, and defense.
The leaders expressed delight with increased economic cooperation between the two nations during the meeting.
The prime minister praised the Kingdom’s commitment to investing in important industries to boost Pakistan’s economy and stability.
The two presidents also discussed the “evolving regional situation as well as geopolitical landscape and agreed to work closely at all levels for promoting their shared vision for peace, stability and prosperity in the region”.
The Saudi crown prince praised Pakistani sacrifices and vowed to improve their wellbeing.
Both presidents noted the need to “strengthen people-to-people ties, cultural exchanges and educational collaboration”.
The prime minister and crown prince pledged to take Pakistan-Saudi Arabia relations to “new heights, guided by mutual respect, shared interests, and a common vision for progress and prosperity”.
Saudi minister wants stronger business relations with Pakistan
Saudi Arabia’s Minister for Investment Sheikh Khalid Bin Abdul Aziz Al Faleh showed interest in expanding commercial ties with Pakistan in a separate meeting.
PM Shehbaz visited Saudi Investment Minister Khalid Al Faleh and Joint Task Force for Economic Engagement Head Mohammad Al Tuwaijri during the four-day tour to discuss bilateral economic cooperation.
The talks focused on economic cooperation, Saudi investment, and key sector collaboration.
After wishing Saudi leaders well, the prime minister underlined Pakistan’s commitment to Saudi investors, underlining the country’s strategic location and investment-friendly policies.
Pakistan has huge energy, infrastructure, agriculture, and technology potential, he said, asking Saudi corporations to investigate SIFC options.
Saudi Investment Minister Khalid Al Faleh and Task Force Head Mohammad Al Tuwaijri showed significant interest in commercial cooperation with Pakistan.
They discussed improving institutional collaboration to speed up and smooth investment initiatives.
The meeting reaffirmed both nations’ commitment to a long-term, mutually beneficial economic relationship.
In April 2024, PM Shehbaz visited Saudi Arabia for the first time as PM. He and Crown Prince Salman agreed to speed up the first wave of a $5 billion Saudi investment package for Pakistan during the visit. According to the Saudi Press Agency, the decision confirmed Saudi Arabia’s support for Pakistan’s economy.
PM Shehbaz also assured Saudi investors that the Special Investment and Facilitation Council would provide the best facilities and ease of doing business when they visited Pakistan.
PM Shehbaz visited the One Water Summit in Riyadh in December 2024, where Pakistan and Saudi Arabia inked several MoUs for billions of dollars in investment.
Saudi Arabia’s Minister for Investment Sheikh Khalid Bin Abdul Aziz Al Faleh confirmed in October that the 27 MoUs inked during his Pakistan tour had grown to 34, with five operational.
