Pakistan and Saudi Arabia on Saturday pledged to deepen their economic ties and increase Saudi investments in Pakistan.
This commitment was articulated during a meeting between Pakistan’s Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar and his Saudi counterpart, Faisal bin Farhan Al Saud, on the sidelines of the 15th OIC Islamic Summit Conference held in Banjul, The Gambia.
The discussions between the two foreign ministers were comprehensive, covering a range of issues, including the concerning developments in the Middle East. Both sides expressed deep concern and called for an immediate ceasefire in Gaza, highlighting the urgency of restoring peace in the region.
A significant part of their dialogue focused on the vital role of the Organization of Islamic Cooperation (OIC) in addressing issues that affect the Muslim Ummah, notably the ongoing situations in Palestine and Kashmir. The ministers underscored the necessity of concerted efforts under the OIC umbrella to bring about substantive resolutions to these long-standing conflicts.
Economic cooperation was at the forefront of the meeting, with both Pakistan and Saudi Arabia reaffirming their commitment to enhance bilateral economic ties. This includes increasing Saudi investments in key sectors of Pakistan’s economy. The recent visit of Minister Faisal bin Farhan Al Saud to Pakistan with a high-level delegation was highlighted as a catalyst for new momentum in economic collaboration between the two nations.
Deputy Prime Minister Mohammad Ishaq Dar lauded Saudi Arabia’s ambitious ‘Vision 2030’, an initiative aimed at the socio-economic transformation of the Kingdom into a modern state while diversifying its economy beyond oil. Dar expressed his optimism that the strengthened economic relations would be mutually beneficial, aiding Pakistan’s development agenda and offering lucrative investment opportunities for Saudi investors.
The meeting also touched on the potential areas for cooperation, including energy, infrastructure, and tourism, which are aligned with Pakistan’s developmental needs and Saudi Arabia’s investment strategies. Both countries are looking to leverage their strategic positions and resources to fuel economic growth and stability in the region.
As the Islamic Summit wrapped up, the clear message from the Pakistan-Saudi Arabia meeting was one of solidarity and shared vision for the future. By reaffirming their commitment to enhance economic ties and collaboration, Pakistan and Saudi Arabia are setting a course towards a stronger bilateral relationship that promises to bring positive changes for both countries. The outcomes of this high-level engagement are eagerly anticipated, as they set the stage for a new chapter in the enduring partnership between these two key players in the Muslim world.
