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    You are at:Home»Business»Saudi Delegation Visits Pakistan to Advance Bilateral Agreements

    Saudi Delegation Visits Pakistan to Advance Bilateral Agreements

    “Preceding the arrival of the Saudi delegation, Islamabad add the Zainabyoun group, allegedly supported by Iran, to its list of terrorist organizations. Furthermore, Pakistani authorities apprehended Ashraf Hossein, believed to be a key figure in the recruitment efforts for this group.”
    Kubha NewsBy Kubha NewsApril 15, 202402 Mins Read
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    Islamabad (Kubha News) – A high-ranking delegation from Saudi Arabia, led by Prince Faisal bin Farhan bin Abdullah, the Kingdom’s foreign minister, commenced a two-day visit to Pakistan on Monday.

    After a prolonged absence of foreign dignitaries, Pakistani officials extended a warm welcome to the Saudi Foreign Minister in Islamabad, rolling out the red carpet and welcoming him with flower garlands.

    Preceding the arrival of the Saudi delegation, Islamabad add the Zainabyoun group, allegedly supported by Iran, to its list of terrorist organizations. Furthermore, Pakistani authorities apprehended Ashraf Hossein, believed to be a key figure in the recruitment efforts for this group.

    In another security measure, to show Islamabad’s commitment and honesty in relations with Riyadh, Pakistani law enforcers arrested around 200 Shia Pakistanis upon their arrival from Iraq at Karachi airport.

    The primary objective of the Saudi delegation’s visit is to expedite the implementation of agreements forged between Prime Minister Shahbaz Sharif and Crown Prince Mohammed bin Salman during their recent summit in Mecca.

    Following the Mecca summit, both sides have expressed eagerness to expedite the previously discussed $5 billion investment package, although Riyadh has yet to officially disclose the terms and conditions of this investment.

    Pakistan, eager to bolster its foreign reserves and stimulate economic growth, views these investments as crucial. With mounting foreign debts, the country seeks to minimize reliance on international financial institutions by attracting investments through initiatives like the Special Investment Facilitation Council (SIFC). Established to address Pakistan’s economic challenges through foreign investment, SIFC aims to attract a staggering $70 billion in investments from Gulf Cooperation Council countries over the next three to five years.

    Despite the economic opportunities, experts caution that Pakistan’s fragile security situation, particularly in regions like Balochistan and Khyber Pakhtonkhwa poses a significant challenge to attracting foreign capital.

    Pakistan Pakistan Economy Saudi Pakistan Relations

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