ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday arrived in Riyadh on a two-day official visit to the Kingdom during which he will meet Saudi Crown Prince Mohammed bin Salman and also attend an investment conference, the Pakistani premier’s office said.
Sharif’s visit comes after a visit to Islamabad by Saudi Investment Minister Khalid bin Abdulaziz Al-Falih during which over $2 billion in agreements and memorandums of understanding (MoUs) were signed between Saudi and Pakistani businesses.
During his latest visit, Sharif will attend the eighth edition of the Future Investment Initiative (FII) conference in Riyadh.
“Prime Minister will participate and address the plenary session of the 8th edition of the Future Investment Initiative (FII) being held in the King Abdulaziz International Conference Center Riyadh from 29-31 October,” Sharif’s office said in a statement.
“The theme for this edition is ‘Infinite Horizons: Investing Today, Shaping Tomorrow.’ The delegates will ignite discussions on how investment can serve as a catalyst for a prosperous and sustainable future.”
Sharif is also expected to call on the Saudi crown prince during the visit and also meet other senior leaders of the Kingdom.
“The two sides will discuss economic and strategic partnership between Pakistan and the Kingdom of Saudi Arabia and explore bilateral cooperation in the economic, energy, and defense domains,” a statement from the Pakistani foreign office said, adding that Sharif is also expected to engage with leaders and entrepreneurs participating in the FII conference.
The Pakistani PM’s visit takes place at a time when Islamabad is seeking to strengthen trade and investment ties with friendly nations, particularly the Kingdom, whose leadership reaffirmed its commitment earlier this year to expediting a $5 billion investment package, which cash-strapped Pakistan desperately needs to shore up its dwindling foreign reserves and fight a chronic balance of payment crisis.
