Pakistan PM Shehbaz Sharif travels to Saudi Arabia on two-day official visit

Islamabad, Oct 29 (PTI) Pakistan Prime Minister Shehbaz Sharif on Tuesday travelled to Saudi Arabia on a two-day official visit, during which he will hold talks with the Gulf kingdom's top leadership and attend the Future Investment Initiative (FII).

The 8th edition of FII is being held in Riyadh from October 29-30, according to a statement issued by the Foreign Office.

"Look forward to attend this impressive gathering of political, business and corporate world leaders to shape a better future for all," Sharif said in a post after reaching the Saudi capital of Riyadh.

He said that in his meetings with the Saudi leadership, he will reaffirm Pakistan's desire to further cement bilateral ties through robust and mutually beneficial partnerships in trade and investment.

The prime minister is accompanied by several Cabinet ministers.

He will hold bilateral talks with Saudi Crown Prince Mohammed bin Salman and other senior officials. The two sides will discuss the economic and strategic partnership between Pakistan and Saudi Arabia and explore bilateral cooperation in the economic, energy, and defence domains.

He is expected to engage with participating leaders and entrepreneurs on the sidelines of the FII conference.

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.

This year's FII is themed ‘Infinite Horizons: Investing Today, Shaping Tomorrow’ and will focus on global investments, aimed at addressing major issues such as Artificial Intelligence, robotics, education, energy, space, finance, healthcare, and sustainability.

Earlier this month, Pakistan and Saudi Arabia signed 27 memorandums of understanding worth USD 2.2 billion in various sectors.

In April, Sharif made his first official trip to Saudi Arabia since assuming office this year. During the visit, he and the Crown Prince had agreed to expedite the first wave of a planned $5 billion Saudi investment package for Pakistan.

In May when a Saudi delegation visited Pakistan, Sharif assured Saudi investors that they would get the best facilities possible and also an ease of doing business under the umbrella of the Special Investment and Facilitation Council (SIFC). PTI ZH ZH