Monday Oct 01 2018

Saudi delegation discusses bilateral trade ties with PM’s advisor on commerce

ISLAMABAD: An important meeting between the government's top brass and a high-level Saudi delegation took place in Islamabad on Monday.

Advisor to the Prime Minister on Commerce, Textile, Industry and Investment Abdul Razaq Dawood met the foreign delegation at a private hotel.

During the meeting, matters pertaining to strengthening the bilateral trade ties were discussed. The issue to increase job quota for Pakistanis in the Kingdom was also raised by Dawood.

The Federal Minister for Power Omar Ayub Khan also met the delegation to discuss the prospect of increasing cooperation in the power sector, sources said. Apprising the foreign officials of investment opportunities in the sector, Omar also assured the delegation that Pakistan will provide security and facilities to investors.   

Later today, Finance Minister Asad Umar and Petroleum Minister Ghulam Sarwar Khan are expected to meet the foreign dignitaries.

According to sources, the Saudi delegation will be briefed on imports and exports. The representatives of both sides will discuss the possibility of increasing Pakistan's exports.

Further, the Saudi guests will also be extended an invitation to invest in the China-Pakistan Economic Corridor (CPEC) project. The delegation is also expected to invest in liquefied natural gas (LNG)-based power projects, said sources.   

During its six-day visit to Pakistan, the delegation is expected to sign five important Memorandums of Understanding (MoUs), sources said. 

Pakistan and Saudi Arabia earlier signed “three grant agreements” to bring major investment in the country after the former invited the country to become the third partner in the CPEC plan.