Saudi Foreign Minister with high delegates due today

ISLAMABAD: A high-level Saudi delegation, led by Foreign Minister Prince Faisal bin Farhan bin Abdullah, will visit Pakistan from 15 to 16 April, 2024.

The delegation consists of Saudi Minister of Water and Agriculture Eng Abdul Rahman Abdul Mohsen Al-Fadley, Minister of Industry and Mineral Resources Bandar Ibrahim AlKhorayef, Deputy Minister of Investment Badr AlBadr, Head of Saudi Special Committee Mohammad Mazyed Al Towaijri, and senior officials from Ministry of Energy and Saudi Fund for General Investments.

The visit takes place essentially to expedite follow up on the understanding reached between Prime Minister Muhammad Shehbaz Sharif and HRH Mohammad bin Salman, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia during their recent meeting in Makkah Al Mukarramah to enhance bilateral economic cooperation between Pakistan and Saudi Arabia.

The Saudi delegation is expected to hold meetings with the President, the Prime Minister, the Foreign Minister and counterpart ministers, COAS, Apex Committee of SIFC.

This visit is aimed at lending positive impetus to enhanced bilateral cooperation and mutually rewarding economic partnership.

Additionally,

A Saudi investment of up to one billion dollars is likely next month in the Reko Diq Copper Gold project located in Chagai district in Balochistan.

Special Investment Facilitation Council is trying to remove obstacles in this regard.

In order to ensure the smooth completion of Saudi investments, the Prime Minister will constitute a committee of Finance Ministry, comprising all stakeholders of country.

Following this investment, Pakistan and Saudi Arabia will sign agreements for further investment in the mining sector.

Meanwhile, SAARC Chamber of Commerce and Industry’s former president Iftikhar Ali Malik has advocated the cause of achieving durable peace in the region, a prerequisite to economic growth, prosperity and development for all countries of South Asia.

Talking to a delegation of traders led by Muslim Khan Buneri from KP here Sunday, he said South Asia has long been plagued by instability and conflicts that have hindered the region’s progress and potential. One of the major concerns contributing to this instability has been the presence of terrorist sanctuaries on Afghan soil, which have posed a severe threat not only to Afghanistan but to neighboring countries including Pakistan, he added.

He said counterterrorism cooperation and  collaboration closely with regional and international stakeholders, especially Pakistan, to eliminate terrorist sanctuaries can help eradicate the breeding grounds for extremist elements and bring about much-needed stability.

About economic integration, he said, “We must embrace economic integration initiatives within the South Asian region and enhanced  economic cooperation can create an environment conducive to peace, prosperity, and development for all.”

He believed that by taking these steps, the Afghan government can play a pivotal role in shaping a more secure and prosperous South Asia ,as this in turn, will foster economic growth, improve living standards, and create a brighter future for all nations in the region. Iftikhar Ali Malik said, “We are committed to supporting any positive efforts towards peace and development in South Asia.”