Islamabad (TDI): Saudi Arabia’s Minister for Investment, Khalid bin Abdulaziz Al-Falih, on Thursday highlighted the robust economic ties between Pakistan and Saudi Arabia, emphasizing that the cooperation between the two nations “has no limits.”
Addressing the Pakistan-Saudi Business Forum during his three-day visit to Islamabad, Al-Falih remarked, “We must strengthen Pakistan’s economy. Pakistan has quickly stabilized its economy.”
His comments come as Pakistan’s economic prospects improve, with the World Bank forecasting a 2.8% growth for the current fiscal year.
Al-Falih, who is leading a high-level 135-member Saudi delegation, is expected to sign agreements worth $2 billion during his visit.
The delegation’s arrival underscores the growing economic partnership between the two countries.
The Saudi investment minister also spoke of the deep-rooted historical ties between Pakistan and Saudi Arabia, stating, “We are family, not friends, Pakistan and Saudi Arabia relations do not need any formal agreement to prove themselves.”
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He underscored that the two nations share common social values and economic interests, with over 2.5 million Pakistanis currently working in Saudi Arabia, he said.
Moreover, during his interactions with President Asif Ali Zardari and Chief of Army Staff (COAS) General Asim Munir, Al-Falih noted their mutual commitment to strengthening Pak-Saudi relations.
He recalled how President Zardari emphasized expanding bilateral ties, while General Asim Munir assured the establishment of a “single window” in the Kingdom to facilitate Saudi investments in Pakistan.
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The minister also praised the efforts of the Special Investment Facilitation Council (SIFC) in fostering Saudi investments and lauded the army chief’s initiative to transform bureaucratic hurdles into a “red carpet” for Saudi investors.
Al-Falih revealed that 27 memorandums of understanding (MoUs) are set to be signed between Riyadh and Islamabad during his visit, further solidifying the economic partnership between the two nations.
