Pakistan, Saudi Arabia vow to boost ‘economic facet’ of ties

Author: News Desk

Pakistan and Saudi Arabia on Tuesday agreed to strengthen their relationship, particularly in the economic domain including cooperation in trade, investment and technology.

Foreign Minister Shah Mahmood Qureshi and his Saudi counterpart Prince Faisal bin Farhan in a joint presser held at the Ministry of Foreign Affairsvowed to continue extending support to each other on issues of regional and international importance.

Prince Farhan, who arrived in Islamabad Tuesday morning, earlier led the delegation-level talks with Foreign Minister Qureshi that encompassed a diverse gamut of matters.”We hope to build on the momentum of strong bonds based on our brotherhood, as the two countries have always stood by each other in difficult times,” the Saudi foreign minister said. He termed the delegation-level talks as “very, very fruitful discussions” held on bilateral matters with all areas of broader spectrum came under discussion, with special focus on economic ties.

The Saudi foreign minister said his government would encourage the businessmen from both sides to explore opportunities of investment in areas of technology.He also assured extending facilitation to the Pakistani travelers, especially in areas of visa restrictions related to the Covid-19 vaccination.On climate change, he expressed the Saudi commitment to continue working with Pakistan as the country pursued the vision of Prime Minister Imran Khan of achieving goals of preservation of the environment.

Saudi FM Faisal bin Farhan appreciated the contributions of Pakistani community towards the development of Saudi Arabia.”We are working to lighten the travel restrictions for passengers from Pakistan and also making sure that the Pakistani community in Saudi Arabia gets vaccinated,” he said, adding that Pakistan has done ‘exceptionally well’ in overcoming the coronavirus.

The Saudi FM said security was the key factor in ensuring economic prosperity and vowed to facilitate the efforts for peace, whether in Kashmir, Palestine or Afghanistan.

Foreign Minister Shah Mahmood Qureshi calling the Saudi FM “my friend and my brother” said at the bilateral front, Pakistan was “comfortable how things were moving”.He said the talks focused on ways to improve economic linkages through bilateral trade and investments.He thanked the government of Saudi Arabia for always supporting the stance of Pakistan on Jammu and Kashmir.

On Afghanistan, he said, both sides shared the same objectives of ensuring peace and stability.He said easing up of travel restrictions amid the coronavirus situation also came under discussion, where the Saudi side agreed to extend facilitation.He said Pakistani workforce could contribute positively towards the implementation of Saudi Arabia’s Vision 2030 of development.He said that around 400,000 of over two million Pakistani workers in Saudi Arabia have been stranded at home due to travel restrictions.”They are facing challenges, you know the travel restrictions and you know the issues of vaccination,” he said.

“We talked about the challenges that Covid-19 has imposed on all of us. It has imposed challenges, travel restrictions, all of these we are working on,” Al Saud said.Qureshi mentioned that the two sides agreed to strengthen cultural linkages and cooperation on fighting against climate change.

Meanwhile, Prime Minister Imran Khan while reaffirming the deep-rooted and historic bonds between Pakistan and Saudi Arabia, particularly emphasized upon the need of strengthening the economic dimension of these ties by taking steps to realize the vast possibilities in trade, investment and energy.The prime minister was talking to Foreign Minister of the Kingdom of Saudi Arabia Prince Faisal Bin Farhan Al Saud who called on him.

Share
Leave a Comment

Recent Posts

  • Top Stories

Senior executives at Mercuria to face investigation by Pakistan’s FIA

Mercuria, a global commodities trading firm headquartered in Geneva, finds its senior executives under scrutiny…

15 hours ago
  • Business

PSX extends bullish trend with gain of 862 points

Pakistan Stock Exchange (PSX) remained bullish for the second session in a row on Monday,…

15 hours ago
  • Business

PKR depreciates by 3 paisas to 278.24 vs USD

The rupee remained on the back foot against the US dollar in the interbank market…

15 hours ago
  • Business

SECP approves PIA’s scheme of arrangement

The Securities and Exchange Commission of Pakistan has approved the Scheme of Arrangement between Pakistan…

15 hours ago
  • Business

Gold snaps losing streak

Gold price in the country snapped a six-session losing streak and increased by Rs2,500 per…

15 hours ago
  • Business

Rs 83.6 billion loaned to young entrepreneurs: Rana Mashhood

Chairman of the Prime Minister Youth’s Programme(PMYP) Rana Mashhood has underscored the success of the…

15 hours ago