THE outcome of the crucial meeting between Prime Minister Shehbaz Sharif and Crown Prince and Prime Minister Mohammed bin Salman (MBS) in Jeddah on Thursday is yet another evidence of Pakistan’s desire to broaden and expand all-encompassing ties with the Kingdom of Saudi Arabia and commitment of the Saudi leadership to the progress and welfare of Pakistan.
The two leaders reaffirmed their commitment to taking bilateral partnership to new heights and strengthening defence and security cooperation, recognizing the importance of collaborative efforts in addressing regional security challenges.
The meeting, which was attended from Pakistan side by all those who matter (Deputy Prime Minister Ishaq Dar, Chief of Army Staff General Syed Asim Munir and Punjab Chief Minister Maryam Nawaz) also reaffirmed the strong and historic ties between Pakistan and Saudi Arabia, with discussions focused on enhancing cooperation in economic, trade, investment, energy and defence sectors.
The visit of the Prime Minister was surely in continuation of the strenuous efforts being made by his Government to bolster economic ties with important partners and seek investment in different sectors of Pakistan’s economy and it is encouraging to note that Saudi Arabia is demonstrating complete reciprocity in this regard with both the leaders expressing satisfaction at the growing economic collaboration.
The meeting took place in the backdrop of reports that a $1.2 billion Saudi oil facility will begin this month and continue for one year, providing substantial relief to the country facing financial hardships.
This is in addition to the liberal decision of the Saudi leadership to provide $5 billion worth of deposits enabling the country to meet one of the critical conditions of the International Monetary Fund (IMF) for conclusion and continuation of the new fiscal package.
It may also be pointed out that Saudi Arabia has concrete plans to invest in the mining and mineral sector of Pakistan and the two countries have signed a number of agreements and Memoranda of Understanding (MoUs) to strengthen and diversify cooperation in various fields to their mutual advantage.
It is also for the first time in decades that the understanding reached between the leadership of the two countries for forging ties is being given practical shape by their respective ministries and departments at an accelerated pace.
About 2.7 million Pakistanis live and work in Saudi Arabia, making them one of the largest migrant communities in the Kingdom.
The Overseas Pakistanis are rightly considered as the backbone of the country’s economy because they remit home more than what the country earns through exports in a year and therefore, their welfare is of prime importance for the Pakistan Government.
With this in view, it is satisfying to observe that MBS acknowledged the significant contributions of the Pakistani community in Saudi Arabia and agreed to enhance measures to facilitate their welfare.
Saudi Arabia, under the dynamic leadership of MBS, is implementing an epoch-making Vision-2030 aimed at modernizing almost all aspects of Saudi life with immense scope for absorbing more Pakistani workforce in different roles as the country has a diverse and skilled manpower.
We hope this aspect will receive special attention by planners and decision-makers in Pakistan.
The economic dimension of the Prime Ministers visit was also highlighted by his separate meeting with Saudi Investment Minister Khalid Al-Falih and Head of the Joint Task Force for Economic Engagement Mohammad Al-Tuwaijri where both the countries agreed to further strengthen the bilateral economic partnership through structured engagements and swift execution of joint projects.
The discussions focused on strengthening economic cooperation, attracting Saudi investment and expediting joint initiatives in key sectors.
The Prime Minister emphasized Pakistan’s vast potential in energy, infrastructure, agriculture and technology, inviting Saudi businesses to explore opportunities under the Special Investment Facilitation Council (SIFC).
The meeting underscored the commitment of both nations to fostering a long-term, mutually beneficial economic relationship.
Similarly, there is great potential for the two countries to initiate joint ventures in defence production in view of fast-changing regional and global situation and this possibility should also be explored by respective authorities.
