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Pakistan-KSA to expedite $5B investment package

MAKKAH (Al-Safa Palace): Regional and global developments of mutual interest, including the state of affairs in Gaza were discussed in a meeting between PM Shehbaz Sharif and Saudi Crown Prince/PM Mohammed Bin Salman Bin Abdulaziz Al Saud here on Sunday (7th April, 2024) during the former’s three-day KSA visit.

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.

Pakistan and Saudi Arabia have called for efforts by the international community to halt Israeli military operations in Gaza and mitigate humanitarian impact besides emphasizing the need to advance the peace process.

Both sides underscored the imperative for the international community to pressure Israel to cease hostilities, adhere to international law, and facilitate unhindered humanitarian aid access to Gaza,

Two sides discussed the need for advancing the peace process in accordance with relevant resolutions of the Security Council and the General Assembly as well as the Arab Peace Initiative aimed at finding a just and comprehensive solution, to establish an independent Palestinian state with East Jerusalem as its capital.

The discussions centered on fortifying the fraternal relations between the two brotherly nations and exploring avenues for enhanced collaboration across various sectors.

The two sides stressed the importance of dialogue between Pakistan and India to resolve the outstanding issues between the two countries, especially the Jammu and Kashmir dispute to ensure peace and stability in the region.

The Crown Prince congratulated Prime Minister Shehbaz Sharif on assuming the office and expressed warm wishes for his tenure.

Prime Minister Shehbaz also conveyed gratitude for the Kingdom’s steadfast support and hospitality, and reaffirmed Pakistan’s commitment to bolstering bilateral ties and economic cooperation.

Prime Minister Shehbaz invited the Crown Prince to undertake an official visit to Pakistan at the earliest convenience which he accepted.

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