“This is the fifth meeting between PM Shehbaz
and MBS in just six months, showcasing
the deepening of our ties,” said Tarar
News Desk
Islamabad: Prime Minister Shehbaz Sharif has returned to Pakistan after a successful two-day visit to Saudi Arabia. During the visit, he attended the One Water Summit in Riyadh, where he proposed a six-point agenda aimed at addressing global water challenges and emphasized the significant climate change-related issues confronting developing countries.
Key Highlights of PM’s Visit
The prime minister’s visit included high-profile meetings with Saudi Crown Prince Mohammed bin Salman and French President Emmanuel Macron. PM Sharif and Crown Prince Mohammed bin Salman discussed ways to deepen bilateral ties and expressed satisfaction with the progress of recent agreements and memoranda of understanding (MoUs) signed between Pakistan and Saudi Arabia. Notably, the two leaders agreed to enhance business and investment relations, marking a historic milestone in their partnership.
Strengthening Pakistan-Saudi Arabia Relations
Information Minister Attaullah Tarar underscored the importance of the visit in bolstering Pakistan-Saudi relations. Tarar noted that the prime minister’s interactions, particularly with the Crown Prince, highlighted the strategic and economic commitments between the two nations. “This is the fifth meeting between PM Shehbaz and MBS in just six months, showcasing the deepening of our ties,” said Tarar.
Saudi Arabia has committed significant investments in Pakistan, with ongoing projects such as the launch of petrol stations by Saudi state oil giant Aramco and the potential entry of the Saudi fast-food chain Albaik into the Pakistani market. The Crown Prince reportedly said, “Pakistanis are our brothers and sisters, and there is no limit to investment in Pakistan.”
Economic Benefits and Job Creation
The prime minister’s visit has been deemed pivotal for Pakistan’s economic recovery. According to Tarar, the MoUs signed this year have already been actualized, promising billions of dollars in investments that will boost the national economy and create job opportunities. The Saudi leadership expressed their satisfaction with the progress in key sectors, including energy, agriculture, IT, and vocational training.
Bilateral Meetings with French President Macron
On the sidelines of the summit, PM Sharif met French President Emmanuel Macron, where both leaders discussed advancing trade and business-to-business cooperation. They agreed to collaborate in sectors such as agriculture, livestock, information technology, vocational training, and providing clean drinking water.
PM’s Achievements and Economic Stabilization
Tarar emphasized the prime minister’s efforts in stabilizing Pakistan’s economy, pointing to achievements such as the stock market crossing 100,000 points, a 4.8% drop in inflation, and a decrease in interest rates. He contrasted these successes with the economic challenges during the previous PTI-led government, which had strained Pakistan’s relations with its allies.
Conclusion
PM Shehbaz Sharif’s visit to Saudi Arabia and the discussions held were seen as a significant step in fortifying economic and diplomatic ties. With the successful implementation of MoUs and future investments, Pakistan is poised for a positive economic trajectory, contributing to regional stability and growth.
