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Islamabad, Pakistan – In a significant development for bilateral relations, Pakistan and Saudi Arabia have reaffirmed their commitment to expediting a $5 billion investment package. This agreement underscores a shared desire to bolster economic cooperation and strengthen the longstanding partnership between the two nations.
Key Takeaways:
- Pakistan and Saudi Arabia prioritize implementation of a $5 billion investment package.
- Prime Minister Shehbaz Sharif and Crown Prince Mohammed bin Salman vow to enhance economic and political ties.
- Discussions focus on regional stability, including the Israeli-Palestinian conflict and Kashmir issue.
- Saudi Crown Prince accepts Prime Minister’s invitation to visit Pakistan.
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Strengthening Economic and Political Cooperation
The meeting between Prime Minister Shehbaz Sharif and Crown Prince Mohammed bin Salman at Al-Safa Palace in Makkah on Sunday marked a productive exchange. Both leaders emphasized the importance of solidifying the fraternal bond between Pakistan and Saudi Arabia. They explored avenues for deepened collaboration across various sectors, with a particular focus on:
- Saudi Arabia’s role in supporting Pakistan’s economic development
- Boosting trade and investment opportunities
Fast-Tracking the $5 Billion Investment Package
A key outcome of the meeting was the renewed commitment to expedite the initial phase of the $5 billion investment package. This significant financial injection is expected to play a vital role in propelling Pakistan’s economic growth.
Addressing Regional and Global Concerns
The discussions extended beyond bilateral matters, encompassing pressing regional and global issues. Both leaders expressed concern about the situation in Gaza and urged the international community to:
- Halt Israeli military operations
- Alleviate the humanitarian crisis
- Pressure Israel to comply with international law and facilitate humanitarian aid access
Furthermore, they underscored the importance of reviving the peace process based on established international resolutions and the Arab Peace Initiative, with the goal of establishing an independent Palestinian state with East Jerusalem as its capital.
Finding Common Ground on Kashmir
The meeting also highlighted the significance of dialogue between Pakistan and India for regional peace and stability. Both leaders emphasized the need to address outstanding issues, particularly the longstanding dispute concerning Jammu and Kashmir.
Invitation Extended for Saudi Crown Prince’s Visit
Prime Minister Shehbaz Sharif concluded the meeting by extending a warm invitation to Crown Prince Mohammed bin Salman to visit Pakistan. The Crown Prince graciously accepted the invitation, signifying a new chapter in strengthened relations between the two countries.
This high-level meeting between Pakistan and Saudi Arabia paves the way for enhanced economic cooperation, regional stability, and a renewed spirit of partnership.