Daily Times

Prime Minister Shehbaz Sharif met with Saudi Crown Prince Mohammed bin Salman to discuss strengthening cooperation. They focused on key areas like economic, trade, investment, energy, and defense during this important meeting. This takes place as Pakistan aims to improve its trade and investment relationships amidst ongoing economic challenges.

Saudi Arabia announced a significant $5 billion investment package to help stabilize Pakistan’s foreign reserves. This investment builds on previous agreements, including 34 memorandums of understanding worth $2.8 billion signed last year. Both nations are also discussing investments in the Reko Diq copper and gold mine, one of the largest undeveloped mines globally.

Prime Minister Shehbaz expressed gratitude for Saudi Arabia’s commitment to increasing investments. He highlighted that these efforts will significantly contribute to Pakistan’s economic stability. The two leaders also underscored the importance of cooperation in defense and security to address regional challenges and promote peace.

During his visit, Prime Minister Sharif held talks with Saudi Investment Minister Khalid Al-Falih about attracting more Saudi investments. He emphasized Pakistan’s potential in sectors such as energy, infrastructure, and agriculture. The discussion cemented both countries’ commitment to a mutually beneficial economic relationship, enhancing ties through people-to-people interactions and cultural exchanges.