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Business & Finance

PM Imran invites Saudi Arabia to benefit from Pakistan's economic offerings

  • Says private sectors of both countries can take advantage of cordial bilateral relations
Updated 25 Oct 2021

Prime Minister Imran Khan has said that the country will stand by Saudi Arabia when needed, while inviting the Kingdom's business community to benefit from offerings in Pakistan.

Addressing the Saudi Investment Forum in Riyadh on Monday, the prime minister expressed hope that the private sectors of the two countries would take full advantage of close and cordial bilateral relations to realise the untapped potential in the fields of trade, business and investment.

He assured the Saudi government that Pakistan will be standing with the Kingdom to protect their security.

“I want to assure Saudi Arabia that whenever there is any threat, I can assure you that Pakistan will be standing with you to protect your security,” said Khan.

Praising Crown Prince Mohammed bin Salman Al Saud, Khan stated: “I have seen the change under the dynamic leadership of the crown prince, I have seen the difference. He has a passion for change for the future of Saudi Arabia.”

PM arrives in Riyadh to attend ME Green Initiative Summit

PM Khan said that in the 1960s, Pakistan was among the fastest growing economies in the world, with strong institutions.

“Our growth was moving in the right direction, but unfortunately, we lost our way,” said Khan, blaming nationalisation for ‘stunting’ growth.

The prime minister, however, said Pakistan is opening itself for business. “We are incentivising our industry; we are now exploring the full potential of our country.”

Khan said that a majority of Pakistan’s 220 million population is under the age of 30. “It means it has tremendous potential to grow because the most important factor of growth is a young population.

“Then is the strategic location of Pakistan — we have two of the biggest markets in the world (China, India) neighbouring us. We have, through Afghanistan, access to the central Asian market,” he said.

He said Pakistan has excellent relations with China and that there could be further economic dividends if the Kashmir issue is resolved with India.

"There is only one issue between us (India and Pakistan) and that is the issue of Kashmir. It’s all about human rights and the right of the people of Kashmir for their self-determination. The right was guaranteed by the Security Council of the United Nations to the people of Kashmir 72 years ago.”

Khan highlighted the economic potential that could be realised if issues between the two neighbours are resolved.

PM Imran reaches Madina

Khan and the accompanying delegation arrived in Riyadh on Sunday to participate in the Middle East Green Initiative Summit.

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