The Pakistani Prime Minister met the Saudi crown to strengthen the bilateral economic relations between both countries.

Strengthening bilateral relations:

Pakistan and Saudi Arabia have a firm stance to strengthen the economy and defense of both countries. Both countries have shared military and economic ties over the years. Saudi Arabia has always supported Pakistan and provided financial aid and energy resources to Pakistan.

Shehbaz Sharif’s visit to Saudi Arabia:

Shehbaz Sharif met with Saudi Crown Prince Mohammed bin Salman (MBS) in Jeddah. They focused on trade, investment, energy, and defense. The Pakistani delegation included Deputy Prime Minister Ishaq Dar, Chief of Army Staff General Asim Munir, Punjab Chief Minister Maryam Nawaz, and other senior officials.

Boosting economic collaboration:

Shehbaz Sharif and Mohammad Bin Suleman always showed their full support to help Pakistan strengthen its economy. In response, Shehbaz Sharif appreciated Saudia’s concern for Pakistan and praised its efforts. He highlighted how these investments would create economic stability in Pakistan. Their meeting covered regional security issues and strategies for peace and stability.

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Support for the Pakistani community in Saudi Arabia:

Crown Prince Mohammed bin Salman acknowledged the contributions of the Pakistani workforce in Saudi Arabia. He assured further efforts to improve their welfare. Both sides agreed on the need to strengthen cultural exchanges, educational programs, and people-to-people ties. This initiative aims to deepen social and economic integration between the two nations.

Advancing investment plans:

In April 2024, Shehbaz Sharif visited Saudi Arabia for the first time since taking office. During that visit, he and the Crown Prince agreed to fast-track a $5 billion Saudi investment package for Pakistan. The Saudi Press Agency confirmed Saudi Arabia’s commitment to supporting Pakistan’s economy.

Memoranda of understanding (MoUs) for investment:

In December 2024, Shehbaz Sharif attended the One Water Summit in Riyadh. Several MoUs were signed during this event, leading to billions of dollars in Saudi investment in Pakistan. Saudi Investment Minister Sheikh Khalid Bin Abdul Aziz Al Faleh confirmed that the number of signed MoUs had increased from 27 to 34. Five of these agreements had already been implemented.

Encouraging Saudi investments in Pakistan:

Shehbaz Sharif emphasized Pakistan’s strategic location and business-friendly policies. He invited Saudi investors to explore opportunities in energy, infrastructure, agriculture, and technology. The Special Investment and Facilitation Council (SIFC) will ensure ease of doing business for Saudi companies.