Pakistan, Saudi Arabia Agree To Further Promote Economic Cooperation

Pakistan, Saudi Arabia Agree To Further Promote Economic Cooperation

ISLAMABAD, Apr 17 (NNN-APP) – Pakistan and Saudi Arabia, yesterday, agreed to further promote economic cooperation and convert the strong partnership into a strategic partnership, for the mutual benefit of the two countries.

Speaking at a joint press conference here, Pakistani Foreign Minister, Ishaq Dar and his Saudi counterpart, Prince Faisal bin Farhan Al Saud, reiterated their commitment to deepen cooperation in various fields and enhance investment in Pakistan.

A high-level Saudi delegation, led by Faisal, was on a two-day visit to Pakistan from Apr 15 to 16. The Saudi delegation held meetings with key Pakistani leaders, including Prime Minister, Shehbaz Sharif and President, Asif Ali Zardari, during the visit.

Highlighting extensive opportunities for investors from Saudi Arabia in various fields, including energy, agriculture, minerals and information technology sectors, Dar said that, Pakistan would ensure full support to the Saudi investment, and provide a favourable environment and ease of doing business.

“The Special Investment Facilitation Council (SIFC) has been functioning like one window for fast-tracking foreign investment,” he said, adding that, his country is committed to strengthening its investment environment and expressing hope that Pakistan will soon become a hub for investment and innovations.

Dar noted that, about 2.5 million Pakistani expatriates are working in Saudi Arabia, and contributing around 25 percent out of the total remittances received, saying that, the country would export trained and skilled workforce to meet the new policy of Saudi Arabia.

For his part, Faisal said that, the proactive and business-focused approach of the Pakistani side is impressive, and there are significant investment opportunities in the country, terming the visit “very positive.”

He reaffirmed the need to continue working closely with Pakistan for economic progress and regional security, with historic bilateral cooperation.

Both sides also demanded immediate enforcement of a ceasefire in Gaza, opening of a humanitarian corridor, and averting famine, that is leading to a catastrophe for the people in Gaza.– NNN-APP


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