Pakistan: According to a statement released on Monday by the Ministry of Foreign Affairs, Prime Minister Shehbaz Sharif will travel to Saudi Arabia to participate in the 8th Edition of the Future Investment Initiative (FII), which will be held in Riyadh on October 29 and 30.
The statement says that the FII is a good place for countries to show off their economic strength, get investments from other countries, and talk about how to make a sustainable future.
“The current year’s FII is themed ‘Limitless Skylines: Contributing Today, Molding Tomorrow’ and will zero in on worldwide ventures pointed toward resolving significant issues like Computerized reasoning, mechanical technology, schooling, energy, space, money, medical services, and supportability,” the assertion read.
It is anticipated that PM Shehbaz will hold important bilateral talks with the Saudi Crown Prince, Prime Minister Mohammed bin Salman, and other senior Saudi officials. Shehbaz will be accompanied by key cabinet ministers.
“The different sides will examine the monetary and key association among Pakistan and the Realm of Saudi Arabia and investigate two-sided participation in the financial, energy, and guard spaces,” the assertion said.
The statement went on to say that the prime minister is also expected to interact with businesspeople and leaders who are attending the FII conference.
Islamabad and Riyadh, Saudi Arabia, have a long history of brotherly relations and cooperation in a variety of areas, including the economy, trade, defense, and culture.
As the Saudi Minister for Investment, Sheikh Khalid Bin Abdul Aziz Al Faleh, arrived in Islamabad for a three-day official visit earlier this month, the two countries signed 27 memorandums of understanding (MoUs) worth $2.2 billion in various sectors.
Since taking office this year, PM Shehbaz traveled to Saudi Arabia for the first time in April. He and Crown Prince Salman had agreed to speed up the first phase of a $5 billion Saudi investment package for Pakistan during the visit. The Saudi Press Agency reported that the move confirmed Saudi Arabia’s support for Pakistan’s economy and its “sisterly people.”
During a Saudi delegation’s visit to Pakistan in May, PM Shehbaz promised Saudi investors that the Special Investment and Facilitation Council (SIFC) would provide them with the best facilities and make it easier to conduct business.
In addition to having strong bilateral ties, the Kingdom has frequently assisted Pakistan in times of economic trouble.
