Saudi investment minister to visit Pakistan, Oct 9-11

October 07, 2024 (MLN): Saudi Arabia’s Investment Minister Khalid bin Abdulaziz Al-Falih will visit Pakistan with a high-level delegation from October 9-11, Pakistan’s foreign office spokesperson said on Monday, stressing that the visit would aim to enhance bilateral cooperation and economic partnership between the two allies, Arab News reported

Pakistan and Saudi Arabia have been closely working in recent months to increase bilateral trade and investment deals, with Crown Prince Mohammed bin Salman reaffirming the Kingdom’s commitment to expedite an investment package of $5 billion to the South Asian country earlier this year.

Pakistan has increasingly engaged with regional partners, especially Saudi Arabia and its allies in the Middle East, for mutually rewarding economic ties and partnerships.

The country sees lucrative foreign trade and investment deals as its key to escape a prolonged economic crisis that has drained its resources, triggered high inflation and weakened its currency.

“A high-level Saudi delegation led by Minister for Investment Engineer Khalid bin Abdulaziz Al-Falih will visit Pakistan from 9th to 11th of October 2024,” Mumtaz Zahra Baloch, Pakistan’s foreign office spokesperson, told reporters at a press briefing.

She said Al-Falih’s delegation will comprise people from Saudi Arabia’s government agencies and private sector, which will meet Pakistan’s prime minister and president during the visit.

“This visit is aimed at lending positive impetus to enhanced bilateral cooperation and mutually rewarding economic partnership,” she added.

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