Saudi Arabia signs agreements for $20bn investment in Pakistan

ISLAMABAD: Saudi Prince Mohammed bin Salman on Sunday said that his country signed investment agreements worth $20 billion in Pakistan.

 

 

At a reception hosted by Prime Minister Imran Khan, the Saudi Prince said that it was great moment for him as it was creating great future for Saudi Arabia and Pakistan.

Saudi Arabia and Pakistan have signed investment agreements in energy and agriculture sectors, including setting up a $10 billion oil refinery in Gwadar.

At the reception Prime Minister Imran Khan had welcomed the Saudi dignitaries and urged the Saudi Prince to allow immigration at three major Pakistani airports for Hujjaj. He also made special request for 3,000 Pakistani prisoners in Saudi Arabia.

Earlier, Prime Minister Imran, along with his Cabinet members, arrived at Nur Khan airbase and received the Saudi crown prince. Chief of Army Staff General Qamar Bajwa also reached the air base to extend warm welcome.

After receiving a warm welcome, the Saudi crown prince arrived at PM House and was presented a guard of honour.

At the PM House, Memorandum of Understanding (MoUs) were signed between the two countries in diverse sectors.

The ceremony was witnessed by the crown prince and PM Imran.

The Saudi crown prince and PM Imran held one-on-one meeting, while the officials of the two countries signed the MoUs.

PM Imran, while addressing the MoU-signing ceremony, said that Saudi Arabia and Pakistan always enjoyed brotherly relations.

The prime minister said that the two countries need to extend cooperation in tourism, petrochemicals, and other fields.

“We are taking Pak-Saudi ties to its zenith,” said the PM, adding that in future the relations would reach new heights.

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