Wednesday
22 May | 2024

Lahore, Pakistan

KSA impressed with Pakistan’s business-focused approach

Prince Faisal bin Farhan Al Saud-led high-powered Saudi delegation calls on Ishaq Dar at Ministry of Foreign Affairs in Islamabad; points out investment opportunities in Pakistan

Saudi Arabia’s Minister for Foreign Affairs Prince Faisal bin Farhan Al Saud – while expressing his profound appreciation for the warm welcome and hospitality – has said that the high-powered Saudi delegation is impressed with Pakistan’s proactive and business-focused approach.

Addressing a joint presser along with Minister for Foreign Affairs Ishaq Dar in Islamabad, he termed his meetings with Pakistan’s leadership productive, and stressed upon the importance of strategic partnership between the South Asian country and the Middle Eastern kingdom and expressed commitment for more investment.

Prince Faisal bin Farhan terms his meetings with Pakistan’s leadership productive, expresses commitment for more investment

Prince Faisal bin Farhan Al Saud said that there were significant investment opportunities in Pakistan, and termed their visit positive on their perspective, which would lay the groundwork for future ventures. He said that the untapped potential in Pakistan needed to be tapped. He reaffirmed to continue working closely for the economic progress and regional security with historic bilateral cooperation.

He said that Pakistan and Saudi Arabia believed in dialogue to end the global challenges. He said that both sides reiterated to further build up and convert the strong partnership into a strategic partnership and further promote economic cooperation for the mutual benefit. He lauded contributions made by Pakistanis to the kingdom’s development, expressing confidence that the positive contribution in their economy would continue in the future.

He said that the two brotherly countries were facing the challenges together, cooperated and relied on each other in the past, and would continue in the future. Regretting failure of the international community to ensure ceasefire in Palestine, both the ministers demanded immediate enforcement of ceasefire, opening of a humanitarian corridor and averting of famine that was leading to a catastrophe.

Pakistan will export trained and skilled workforce to Saudi Arabia

Ishaq Dar said that Pakistan and Saudi Arabia shared the same feelings on Gaza, stressing upon the world to help end the ‘genocide’ in the Middle Eastern region. He said that more than 33,000 Palestinians had been killed, the world conscience must wake up and enforce an immediate and unconditional ceasefire to ensure unimpeded humanitarian aid. More Palestinians should not be killed due to starvation, he said, demanding for a global probe into the crimes committed against humanity in the region.

He said that investigations had been carried out over the war crimes against humanity so why it could not take place in Gaza! He reiterated Pakistan believed that the perpetual solution to the issue was in the establishment of an independent state of Palestine with its pre-1967 borders and Al-Quds Al-Sharif as its capital. He shared views of the Saudi minister that the world woke up after the killing of six aid workers from the West but not on the deaths of thousands of Palestinians. He said that the world must act fast and quick.

Saudi Arabia impressed with Pakistan’s proactive, business-focused approach
Foreign Affairs Minister Ishaq Dar and Foreign Minister of Saudi Arabia Prince Faisal Bin Farhan Al Saud held a meeting at Ministry of Foreign Affairs in Islamabad.

The Saudi minister for foreign affairs said that people in Gaza were now facing a famine-like situation and starving to death as the international humanitarian aid was not getting in. “It is a complete failure of the international community,” he added. Terming the situation unacceptable, he said there was no justification to it. In reality, he said that the two United Nations resolutions regarding immediate ceasefire in Gaza had not seen implementation. He called for an immediate end to the killings and sufferings of the Palestinian people.

Ishaq Dar expressed his pleasure on the arrival of the high-powered Saudi delegation, terming it an impressive group of dignitaries visiting Pakistan for the first time during his long political career. About their deliberations, he said that they had discussed ways and means to transform the cordial cooperation into a strategic partnership and enhancement of investment in Pakistan. He explained that the Special Investment Facilitation Council (SIFC) was functioning like one window for fast tracking foreign investment.

“We are committed to strengthening our investment environment,” he said, and expressed the hope that Pakistan would soon become a hub for investment and innovations. He expressed the optimism that their detailed briefings had highlighted extensive opportunities for the Saudi investors in energy, agriculture, minerals and information technology sectors. He said that they would ensure full support to the Saudi investment and provide a conducive environment under the directives of Prime Minister Muhammad Shehbaz Sharif.

To query, he said that the Special Investment Facilitation Council and launch of the Sovereign Wealth Fund were established through acts of the parliament. The fund had a worth of nine million dollars now as against its initial launch at $2.3 million. Moreover, he told a questioner that Pakistan had 10 trillion dollars worth mineral assets. He said that both the countries enjoyed fraternal ties and had historic background of common approach at all the regional and multi-lateral fora.

The minister for foreign affairs said that the Saudi Arabia was hosting about 2.5 million Pakistanis that formed 28 percent of the total number of Pakistani expatriates working abroad and they had been sending 25 percent out of the total remittances received by the country. He said that the Pakistan government would export trained and skilled workforce to meet the new policy of the resource-rich Arab kingdom.

Saudi Arabia impressed with Pakistan’s proactive, business-focused approach
Minister for Foreign Affairs Ishaq Dar and Saudi Arabia’s Minister for Foreign Affairs Prince Faisal bin Farhan Al Saud in Islamabad.

At the Ministry of Foreign Affairs, Ishaq Dar and Prince Faisal bin Farhan Al Saud discussed potential for extensive commercial, trade, and investment cooperation in multiple domains for the mutual benefit of the two countries. The Pakistani minister recalled important understandings reached at the leadership level during the recent visit of Prime Minister Muhammad Shehbaz Sharif to the Saudi kingdom.

Commending upward trajectory of relations with the Arab kingdom, he reaffirmed Pakistan’s longstanding commitment to further strengthen bilateral economic and security cooperation. He lauded phenomenal progress by Saudi Arabia under its visionary and futuristic leadership, and the role for peace and security in the region. He underlined tremendous investment opportunities offered by Pakistan and the central role of Special Investment Facilitation Council in this regard.

The Saudi minister thanked the host minister for the warm welcome accorded to him and his delegation, and highlighted 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.

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