Pakistan, Saudi Arabia agree to work towards economic prosperity, regional security

ISLAMABAD, April 16 (KUNA) -- Pakistan and Saudi Arabia on Tuesday agreed to work together for economic prosperity, regional security during a visit of the Saudi delegation led by Foreign Minister Prince Faisal Bin Farhan Al-Saud.
While addressing a joint news conference along with Pakistani Foreign Minister Ishaq Dar here in Islamabad, the Saudi FM said that the Kingdom of Saudi Arabia strongly believes in the potential of Pakistan especially in the economic sphere.
He said there is a significant opportunity to increase the level of investments in Pakistan.
Describing his visit to Pakistan as very positive and productive, the visiting Saudi dignitary said the engagements of his delegation with the Pakistani side have laid the framework for significant and important work to be done in the next few months to achieve the potential that exists.
He said his visit to Pakistan would deliver significant benefits in the upcoming months, adding that they are extremely impressed and encouraged by the proactive approach during meetings with the Pakistani side especially the Special Investment Facilitation Council (SIFC).
He said this new intergovernmental and business-focused approach has given us a lot of confidence.
Faisal Bin Farhan Al Saud said both the countries will continue to work together for economic prosperity as well as security of the region and the world.
He said we have stressed on the commitment to further exploring avenues to deepen and strengthen this relationship.
The Saudi Foreign Minister was appreciative of the contributions made by Pakistani expatriates in the development of Saudi Arabia.
In his remarks, Foreign Minister Ishaq Dar said Pakistan greatly appreciates the keen interest of Saudi Arabia in enhancing investments in Pakistan.
He said that this visit provided the Saudi delegation with the first-hand experience of SIFC, which serves as a one Windows platform for the fast track decision making, promoting, and facilitating foreign direct investment.
He said Pakistan is committed to strengthen investment processes, upgrading regulations and enhancing infrastructure to foster a flourishing economic environment and establishing Pakistan as a hub for investment inflows from Saudi Arabia and other friendly countries.
The Foreign Minister reaffirmed the determination to provide Saudi investors full support, relevant safeguards and a conducive environment for investment.
He said Prime Minister Shehbaz Sharif has directed the SIFC and other relevant ministries to move forward on investment projects in a diligent and time bound manner. Ishaq Dar said we are aiming to convert this relationship into a viable, strategic and economic partnership.
Moreover, the Saudi Foreign Minister also met Pakistan's Chief of Army Staff General Syed Asim Munir in Islamabad.
The Army Chief has reiterated full support for the Saudi delegation and conveyed his best wishes for mutually beneficial outcomes from the interaction for both states.
According to Pakistan military's media wing Inter Services Public Relations (ISPR), discussions centered on mutual interests and policies to further bolster bilateral cooperation across various sectors.
The esteemed visitor underscored the enduring and strategic nature of the relationship between the two nations, emphasizing on exploring multiple avenues for continued reinforcement of bilateral ties.
In response, the COAS conveyed appreciation for the delegation's visit, affirming the traditional bond of fraternity between Pakistan and the Kingdom of Saudi Arabia.
He underscored the reverence and affection that the people of Pakistan hold for their Saudi brethren.
Before concluding the visit, Prime Minister of Pakistan Shehbaz Sharif hosted a dinner in the honor of the visiting Saudi delegation in Islamabad.
On the occasion, PM Sharif said that discussions with the Saudi delegation will usher in a new era of close cooperation, and in coming weeks and months we will be able to sign agreements worth billions of dollars, said a statement issued by PM House.
Earlier, a high-level Saudi delegation, led by Foreign Minister Prince Faisal bin Farhan bin Abdullah arrived in Pakistan for a two day official visit.
The delegation consists of Saudi Minister of Water and Agriculture, Eng Abdul Rahman Abdul Mohsen Al-Fadley; Minister of Industry and Mineral Resources, Bandar Ibrahim AlKhorayef; Assistant Minister of Investment, Ibrahim Yousef i AlMubarak; Head of Saudi Special Committee, Mohammad Mazyed Al Towaijri; and senior officials from Ministry of Energy and Saudi Public Investment Fund. (end) sbk.mb