Islamabad (TDI): Prime Minister Muhammad Shehbaz Sharif on Tuesday departed for his two-day official visit of Kingdom of Saudi Arabia to represent Pakistan in Future Investment Initiative.
The 8th Edition of the Future Investment Initiative (FII) meeting (29 to 30 October) begins today in Riyadh, the Ministry of Foreign Affairs has stated.
The FII serves as an important platform for countries to showcase their economic strength, draw foreign investments, and engage in dialogue to shape a sustainable future.
The FII themed as ‘Infinite Horizons: Investing Today, Shaping Tomorrow’ will focus on global investments aimed at addressing major issues such as Artificial Intelligence, robotics, education, energy, space, finance, healthcare, and sustainability, the statement added.
PM Shehbaz, who will be accompanied by key cabinet ministers, is expected to hold important bilateral talks with the Saudi Crown Prince and Prime Minister Mohammed bin Salman and other key Saudi officials.
According to the statement, the two sides will discuss the economic and strategic partnership between Pakistan and the Kingdom of Saudi Arabia and explore bilateral cooperation in the economic, energy, and defence domains.
The prime minister is also expected to engage with participating leaders and entrepreneurs at the FII conference, the ministry stated.
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The two countries are tied in historic brotherly ties with cooperation in various areas including culture, economy, trade, and defence, and others.
Earlier this month, the two states signed 27 memorandums of understanding (MoUs) worth $2.2 billion in various sectors when the Saudi Minister for Investment Sheikh Khalid Bin Abdul Aziz Al Faleh paid three-day official visit to Islamabad.
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Saudi frequently assisted Pakistan during times of economic crises.In June last year, it played a key role in saving Pakistan when it was at the verge of a sovereign default.
Riyadh deposited $2 billion in the State Bank of Pakistan (SBP) to help the country unlock a $3 billion bailout package from the International Monetary Fund (IMF).
