LOC19:36
16:36 GMT
ISLAMABAD, April 16 (KUNA) -- The high-level delegation led by visiting Saudi Foreign Minister Prince Faisal bin Farhan Al-Saud, attended the 'Saudi Arabia-Pakistan Investment Conference' held here in Islamabad on Tuesday.
According to a press release by the Pakistan Foreign Office, Pakistan's Foreign Minister Ishaq Dar warmly welcomed the Saudi Delegation at the Special Investment Facilitation Council (SIFC), emphasizing the deep-rooted ties and mutual strategic interests between Pakistan and Saudi Arabia. He highlighted the significance of enhanced bilateral strategic and economic partnership and the crucial role of Saudi investments in nurturing this relationship. He explained how Pakistan through the SIFC platform aimed to streamline investment processes and ensure rapid decision-making, fostering a flourishing investment-friendly environment in Pakistan.
He highlighted Pakistan's abundant opportunities in agriculture, IT, and mining sectors, inviting Saudi investors to engage in mutually beneficial partnerships. The Foreign Minister expressed confidence in the strengthened bonds between the two countries, envisioning significant economic growth and lasting benefits.
He concluded with a call for constructive engagement and collaboration towards mutual prosperity and development. The SIFC officials gave comprehensive briefings encompassing the potential and investment opportunities in key sectors of Pakistan's economy. Both sides held exhaustive deliberative sessions at functional level to crystallize investment opportunities in Pakistan.
The Saudi side expressed great significance and interest in the improving investment ecosystem in Pakistan, appreciated SIFC's role in amicable resolution of KSA's legacy investment/business-related issues, and showed keen interest in investing in key sectors of Pakistan, said the release.
The Pakistan side assured the Saudi side of maximum support and facilitation in fast-tracking the Kingdom's prospective multibillion-dollar investments in Pakistan.
The two sides also finalized a bilateral implementation mechanism to closely coordinate and execute investment-related matters at the functional level to turn the sovereign commitments into tangible economic outcomes, it concluded.
Moreover, FM Dar received his Saudi counterpart at the Ministry of Foreign Affairs here in Islamabad on Tuesday. Dar recalled the important understandings reached at the leadership level during the recent visit of the Prime Minister to the Kingdom of Saudi Arabia.
Commending the upward trajectory of relations with the Kingdom, he reaffirmed Pakistan's longstanding commitment to further strengthen bilateral economic and security cooperation.
The Pakistani Foreign Minister lauded the phenomenal progress by the Kingdom of Saudi Arabia under its visionary and futuristic leadership and Saudi Arabia's leadership role for peace and security in the region.
The two Foreign Ministers discussed the potential for extensive commercial, trade and investment cooperation in multiple domains for mutual benefit of the two countries, said Pakistan Foreign Office.
Dar underlined the tremendous investment opportunities offered by Pakistan and the central role of SIFC in this regard. Saudi Foreign Minister thanked Foreign Minister Dar for the warm welcome accorded to him and his delegation and highlighted the significance of Saudi Arabia's deep-rooted fraternal relations with Pakistan.
The two Foreign Ministers also discussed recent developments in the region and the grave humanitarian situation in Gaza and called for an immediate ceasefire and an end to the Israeli atrocities there. (end)
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