Pakistan seeks strategic economic partnership with Saudi Arabia: PM Shehbaz

• Saudi business delegation led by Prince Mansour meets PM.
• PM discusses avenues for expanding economic cooperation.
• PM conveys respectful regards to King Salman, MBS.
  

Prime Minister Shehbaz Sharif on Tuesday said that Pakistan was keen to elevate its economic relationship with Saudi Arabia into a mutually beneficial strategic economic partnership.

The prime minister made the remarks during his meeting with a high-level Saudi business delegation, led by Saudi-Pak Joint Business Council Chairman Prince Mansour bin Mohammad Al Saud, who called on the premier at the Prime Minister House today.

During the meeting, the premier conveyed his respectful regards to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and to Crown Prince and Prime Minister Mohammed bin Salman.

While recalling the longstanding brotherly ties between Islamabad and Riyadh, the PM discussed avenues for expanding economic cooperation and investment between the two brotherly countries.

In this regard, the premier recalled Prince Mansour's earlier visits to Pakistan and expressed the hope that the current visit would build on those discussions and culminate in the signing of MoUs and agreements across multiple sectors. 

The Saudi side conveyed interest in investment opportunities in agriculture, ports, highways, and airport outsourcing, real estate sector as well as in the energy, power distribution, and information technology sectors.

PM Shehbaz welcomed Saudi interest in investments in these priority areas and conveyed that this was the most opportune time for joint collaboration between the two countries, both in government-to-government as well as business-to-business cooperation.

Prince Mansour thanked the premier for the warm reception and reaffirmed the Saudi government's and business community's continued interest in deepening business-to-business engagement with Pakistan.

The delegation will meet a number of senior government representatives and private-sector stakeholders during its stay in the country.

Pakistan and Saudi Arabia are seeking to deepen economic ties, particularly in trade, investment and energy. Last month, Riyadh rolled over $5 billion in deposits with Pakistan for three years, providing key financial support.