Prime Minister Shehbaz Sharif is set to depart for Riyadh tomorrow on a three-day official visit to Saudi Arabia to strengthen economic ties and discuss key regional developments. He will be accompanied by a high-level delegation, including Deputy Prime Minister and Foreign Minister Ishaq Dar and other senior cabinet members.
Invited by Saudi Crown Prince and Prime Minister Mohammed bin Salman, Shehbaz Sharif will attend the ninth Future Investment Initiative (FII 9), themed “The Key to Prosperity: Unveiling the New Frontiers of Growth.” This global event will gather international leaders, investors, policymakers, and experts.
During the visit from October 27 to 29, talks with Saudi leadership will focus on increasing trade, securing investments, cooperation in energy, manpower export, and addressing regional and international issues. The prime minister is also expected to meet world leaders and heads of global organizations to highlight Pakistan’s economic opportunities and sustainable development goals.
According to the Foreign Office, this visit reflects Pakistan’s commitment to promoting economic diplomacy and deepening relations with Saudi Arabia.
Strengthening Economic Ties:
In recent months, Pakistan-Saudi relations have seen significant progress through multiple Memorandums of Understanding (MoUs), high-level Saudi delegations visiting Pakistan, and increased discussions on investment and development projects.
Earlier this month, PM Shehbaz hosted a luncheon for a Saudi delegation, emphasizing the importance of expanding ties beyond defence to include trade, business, and investment. He assured that both countries are aligned in their vision for economic growth.
In a notable development, Prince Mansour Bin Mohammed Al Saud signed an MoU with Chishti Group for acquiring a majority share in KES Power Ltd, the parent company of K-Electric.
Punjab Chief Minister Maryam Nawaz announced the establishment of a tax-free Special Saudi Industrial Estate in Punjab to attract foreign investment. She also confirmed MoUs signed between the Pak-Saudi Joint Business Council and Punjab government to enhance economic cooperation.
Overall, PM Shehbaz’s visit is seen as a key step toward boosting economic partnerships, creating new investment opportunities, and strengthening Pakistan’s ties with Saudi Arabia on a global platform.
