COAS, Saudi FM discuss policies to bolster bilateral cooperation further

  • Prince Faisal meets Gen Munir, underscores strategic nature of relationship between Pakistan and Saudi Arabia

RAWALPINDI: Saudi Foreign Minister Faisal bin Farhan Al Saud, accompanied by a delegation, met with the Chief of Army Staff (COAS) General Syed Asim Munir on Tuesday, the military said.

According to Inter-Services Public Relations (ISPR), discussions centred on mutual interests and policies to further bolster bilateral cooperation across various sectors.

The statement said that the esteemed visitor underscored the enduring and strategic nature of the relationship between the two nations, emphasising on exploring multiple avenues for continued reinforcement of bilateral ties.

In response, COAS conveyed appreciation for the delegation’s visit, affirming the traditional bond of fraternity between Pakistan and Saudi Arabia.

He underscored the reverence and affection that the people of Pakistan hold for their Saudi brethren. The army chief reiterated full support for the delegation and conveyed his best wishes for mutually beneficial outcomes from the interaction for both states.

A high-level Saudi delegation, led by FM Faisal arrived in Pakistan on Monday as part of efforts by Pakistan to attract investment from Riyadh.

The delegation comprises key ministers and senior officials arrived in Pakistan on the heels of a visit by Prime Minister Shehbaz Sharif to Riyadh earlier this month where he held wide-ranging talks with the Saudi leadership.

Saudi Crown Prince Mohammed bin Salman directed his senior cabinet ministers to urgently travel to Islamabad to explore the potential areas for investment. Pakistan is giving high importance to the visit as Foreign Minister Ishaq Dar received the Saudi delegation at the Noor Khan Air Base.

Saudi Foreign Minister Faisal bin Farhan Al Saud meets Chief of Army Staff (COAS) General Syed Asim Munir on April 16, 2024. PHOTO: ISPR

Islamabad is offering Saudi investors stakes in the multi-billion-dollar Reko Diq mine projects. Similarly, the SIFC is keen for Saudis to invest in the agricultural sector. The sources indicated that the Saudi delegation would receive detailed presentations on the potential areas of investment.

Pakistan requires injection of billions of dollars if it wants to meet its external liabilities and avoid repeatedly turning to international financial institutions for bailouts. Islamabad is eager for investments to commence sooner rather than later, to boost foreign reserves and stimulate economic growth.

The SIFC was established to tackle the country’s economic challenges through foreign investment. Pakistan aims to attract $70 billion in investment from the Gulf countries over the next three to five years.

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