FM urges Saudi investors to grab opportunities in economic sectors

October 26, 2021: Minister for Foreign Affairs Shah Mehmood Qureshi Monday urged the investors of Pakistan and Saudi Arabia to take advantage of the economic opportunities available in the diverse sectors of the economy.

Speaking at the Pakistan Saudi Arabia Investment Forum here, he said in modern history, there were few examples of a strong and longstanding relationship such as the one enjoyed by Pakistan and Saudi Arabia.

Ties of the two countries were a blend of shared faith, values, and partnership based on friendship and brotherhood, he remarked.

The minister said the ties between the leadership of the two countries were continuing for decades while people of both countries were bonded by feelings of strong fraternity.

People of Pakistan deeply respected Custodian of the Two Holy Mosques King Salman Bin Abdul Aziz and Crown Prince Mohammed Bin Salman, he added.

“We greatly value the steadfastness of the Saudi leadership which always stood with Pakistan in its difficult times. Closeness of our relationship is evident from the fact that for the last three years, since Imran Khan became prime minister, he visited Saudi Arabia seven times.”

He said Pakistan keenly wanted to turn the bilateral ties with Saudi Arabia into a strategic partnership based on mutual interest and cooperation in diverse areas.

There were similarities between the social and economic objectives of Naya Pakistan of prime minister Imran Khan and Vision 2030 of Crown Prince Mohammed Bin Salam, he observed.

He said both the leaders had stressed economic opportunities, economic growth, modernity, progress, trade, and regional connectivity.

Qureshi said Pakistan believed in a shift from geopolitics to geoeconomics which emphasized economic partnership rather than political competition.

“We want internal and external peace so that we can focus on the agenda of social and economic progress. We desire partnership for progress and want to focus on trade, economic contacts and connections so that regional prosperity can be achieved.”

He said Pakistan provided the shortest route for access to Central Asia from the landlocked Afghanistan and access of sea from Karachi and Gwadar to the western parts of China.

He said our effort was to present Pakistan as a hub of economic activities and for advancing positive international interests.

China Pakistan Economic Corridor would connect the region through road and rail network, fiber optic cable, energy pipelines, and other infrastructure, the minister said adding in the second part of CPEC, the focus will be on the sectors of industry, agriculture, and social and economic progress.

The government was giving special incentives in the special economic zones and the investors could take away 100 percent of their profits and there would be tax and customs exemptions, he concluded.

APP