Information minister says Saudi Arabia plans to invest billions of dollars into Pakistan’s economy
Prime Minister Shehbaz Sharif recently ended his significant two-day visit to Saudi Arabia, where he delivered the address at One Water Summit. His address is on a six-point global agenda in the face of a looming challenge of pressing water-related issues, which demands cooperative international efforts.
Talking Water Issues and Climate Change
In his address, PM Sharif emphasized that climate change was hurting developing nations, such as Pakistan, which is experiencing water scarcity and climate-induced disasters. He called for global unity in adopting sustainable water management practices to ensure a better future for all.
Strategic Meetings with Saudi and Global Leaders
On the summit’s sidelines, Prime Minister Sharif had critical discussions with Saudi Crown Prince Mohammed bin Salman (MBS). The two leaders explored ways to elevate bilateral relations and expressed satisfaction with the progress of previously signed agreements and Memorandums of Understanding (MoUs).
A visit included a meeting with French President Emmanuel Macron, where the leaders agreed to enhance business-to-business cooperation in major areas like agriculture, livestock, information technology, vocational training, and access to clean drinking water.
Pakistan-Saudi Relations: An Evolving Relationship
The visit underscored the deepening relationship between Pakistan and Saudi Arabia. Information Minister Attaullah Tarar pointed out that the high-level engagements between PM Sharif and MBS have been very frequent, marking the fifth meeting in just five months.
“This is a growing warmth and trust between the two nations,” Tarar said, pointing out the importance of PM Sharif’s visit in terms of strengthening diplomatic and economic ties.
Saudi Investments in Pakistan: A Promising Future
The visit was also marked by the commitment of Saudi Arabia towards the economic growth of Pakistan. As per Tarar, the Saudi government has promised billions of dollars of investments in various sectors. The main projects include:
Energy Infrastructure: Saudi Aramco is planning to launch petrol stations in Pakistan.
Food Industry Expansion: Plans are being discussed for introducing the Saudi fast-food giant Albaik, which will boost local economic activities and provide employment.
Tarar further disclosed that Saudi leadership views Pakistan with high esteem. In fact, Crown Prince MBS referred to Pakistanis as “brothers.” This is a good basis for unlimited Saudi investments in the economy of Pakistan.
Awaiting Future Visits
There will be future visits by Saudi delegations to finalize other investment opportunities, increased trade, and closer economic ties between the two nations.
A Shared Future Plan
Prime Minister Shehbaz Sharif’s visit to Saudi Arabia shows Pakistan’s commitment to addressing global challenges while strengthening regional partnerships. The outcomes of this visit highlight the potential for sustainable progress and enhanced collaboration between Pakistan, Saudi Arabia, and other global partners.
This visit, not only reinforced Pakistan-Saudi Arabia ties but also made Pakistan an active player in global issues like water management and climate change. The country now looks forward to a brighter, more prosperous future with Saudi investments and strengthened diplomatic relations.
