Pak-Saudi economic ties enter a new era: PM

RIYADH: Prime Minister Shehbaz Sharif on Monday said that the economic ties between Pakistan and Saudi Arabia had entered a new era as both countries were set to take concrete measures to boost the volume of bilateral trade in the coming days.

The prime minister, in a meeting with Saudi Minister of Commerce Dr Majid bin Abdullah Al-Qasabi on the sidelines of the Special Meeting of the World Economic Forum, said the Special Investment Facilitation Council (SIFC) was playing an active role in promoting and facilitating foreign investment in the country, the official news agency reported.

The Saudi minister told the prime minister that on the directives of Saudi Crown Prince and Prime Minister Mohammed bin Salman, the Kingdom was prioritising trade and investment in Pakistan. A delegation of Saudi businessmen, traders and investors would soon visit Pakistan, he added.

The Saudi minister said that the targets were being set to take the bilateral ties to a new height within one or one-and-half years.

Prime Minister Shehbaz said that the Pakistani nationals had played a significant role in the progress and prosperity of Saudi Arabia.

Saudi minister Al-Qasabi stressed the need to further promote the sentiments about the Pak-Saudi ties among the youth and new generation.

Finance Minister Muhammad Aurangzeb, Commerce Minister Jam Kamal Khan, Information and Broadcasting Minister Attaullah Tarar, Petroleum Minister Dr Musaddik Malik and Special Assistant to PM Tariq Fatemi also attended the meeting.