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Joint declaration: confirmation of the deepening and acceleration of cooperation in Saudi-Pakistani investment matter

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As part of the close historical ties between the Kingdom of Saudi Arabia and the Islamic Republic of Pakistan, the Prime Minister of Pakistan, Muhammad Shahbaz Sharif, paid an official visit to the Kingdom of Saudi Arabia.Prince Muhammad bin Salman bin Abdulaziz Al Saud, crown prince and deputy prime minister, received him in Jeddah, where they held a session of official talks and discussed ways to strengthen relations. in all fields.

In the bilateral issue, the two sides stressed the importance of strengthening work through the Saudi-Pakistani Supreme Coordination Council, diversifying intra-trade exchanges between the two brother countries, and intensifying communication between the private sector in the two countries to discuss of commercial and investment opportunities and translate them in concrete partnerships.

The Kingdom of Saudi Arabia affirmed its continued support for Pakistan and its economy, including discussing the possibility of supporting the Kingdom’s deposit with the Central Bank of Pakistan for an amount of $ 3 billion by extending its duration or through other options. , and discussing options for improving the financing of petroleum products and supporting economic reforms in Pakistan in the interest of Pakistan and its people.

A statement released by the Saudi news agency says Pakistan appreciates the continued strong support of the Kingdom of Saudi Arabia.

The two sides agreed to deepen and increase the pace of cooperation in investment matters between the two countries, stimulate partnerships and enable investment opportunities for integration between the private sector in the two countries.In the industrial and mining sectors to serve their strategic interests according to the vision of the leaders of the two countries aimed at strengthening cooperation between them.

The two sides expressed their intention to organize investment forums to present the opportunities available to the economic sectors of both sides and encourage them to hold partnerships. in various investment sectors and to work together to solve the challenges that investors face by continuing the meetings of the Saudi-Pakistani Business Council, and the two sides welcomed the entry of the private sector in the two countries, with investment partnerships in the industries agri-food.

The two sides stressed the importance of cooperation between the two countries with regard to the opportunities offered by the economic transformation programs that the Kingdom is witnessing under the Kingdom Vision 2030 and to benefit from the distinguished experiences and capabilities of Pakistan. in numerous sectors to obtain mutual benefits for the economies of the two countries. The two sides also agreed to strengthen media cooperation between them and discuss opportunities to develop cooperation in the radio, television and news agency sectors and exchange experiences and coordination to serve the development of joint media work.

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