https://arab.news/2wdf6
- Shehbaz Sharif will hold meeting with Crown Prince Mohammed bin Salman, says the foreign office
- The two leaders are expected to deliberate on global developments, including the situation in Gaza
ISLAMABAD: Prime Minister Shehbaz Sharif is scheduled to start his four-day visit to Saudi Arabia today, Wednesday, according to the foreign office in Islamabad, to discuss ways to further enhance bilateral trade and strengthen collaboration in key economic sectors.
Pakistan has tried to strengthen business-to-business (B2B) ties with the Kingdom, with both sides announcing during Prime Minister Shehbaz Sharif’s visit to Riyadh last October they had signed 34 memorandums of understanding and agreements worth $2.8 billion to enhance private sector collaboration and commercial partnerships.
The two countries enjoy close defense, diplomatic, political and cultural relations, though they have consolidated their ties further in recent years as Pakistan grappled with a prolonged economic crisis and sought the kingdom’s help.
“During the visit, the Prime Minister is scheduled to meet Saudi Crown Prince and Prime Minister Mohammed bin Salman,” the foreign office said in statement issued on Tuesday, announcing Sharif’s visit to the Kingdom from March 19 to 22. “The leaders will discuss and deliberate upon ways to boost trade, enhance partnership in key sectors and facilitate greater economic collaboration.”
The statement said they would also focus on regional and global developments, including the Gaza situation, evolving Middle East dynamics and broader issues concerning the Muslim Ummah.
Saudi Arabia presents a key export opportunity for Pakistani businesses, given its strong consumer demand and ambitious Vision 2030 economic reforms that emphasize diversification and foreign investments.
Pakistan has a 2.7 million-strong diaspora in Saudi Arabia, which accounts for the highest remittance inflow, a crucial lifeline for the country’s economy.
Last month, Pakistan’s commerce minister, Jam Kamal Khan, inaugurated the country’s first-ever solo “Made in Pakistan” exhibition in Jeddah, informing participants that over 1.7 million Pakistani workers had migrated to the Kingdom in the past five years, making it the top destination for Pakistani emigrants.
Sharif will be accompanied by Deputy Prime Minister and Foreign Minister Senator Ishaq Dar, along with key federal ministers and senior officials. The delegation is expected to engage with Saudi counterparts to explore new avenues of investment and economic cooperation.