ISLAMABAD: Saudi Crown Prince Mohammed bin Salman is expected to arrive next week for crucial talks with Pakistani leadership, including signing of a number of memorandum of understanding (MoUs) aimed to bolster Saudi investment in various sectors including agriculture, mining, human resource, energy, chemicals, and maritime.

Informed sources told Business Recorder that the final dates of the high level visit are being finalized through diplomatic channels between the two countries and the visit is likely to take place by end of next week.

He will be accompanied by a high-level ministerial and business delegation during the trip.

Crown Prince, who is also Prime Minister of the Kingdom of Saudi Arabia, will hold bilateral talks with Prime Minister Shehbaz Sharif followed by signing of MoUs aimed at enhancing cooperation in various sectors and the Kingdom’s investment in a number of areas.

Prime Minister Shehbaz Sharif’s recent visit to Saudi Arabia was marked by an agreement between the leadership of the two countries to expedite the first wave of Saudi investment package of $ 5 billion.

Sources revealed to Business Recorder that the Crown Prince is scheduled to meet President Asif Ali Zardari and Army Chief General Asim Munir and hold talks on issues of mutual interest, bilateral cooperation, regional and international issues, including the ongoing genocide of the Palestinian people. Foreign Office spokesperson Mumtaz Zahra Baloch neither confirmed nor denied when Business Recorder approached her seeking confirmation.

This will be the first visit by the Saudi Crown Prince to Pakistan in five years, as previously he visited the country in February 2019. The Crown Prince was also due to visit Pakistan in 2022 as part of his visit to the region, but canceled the regional trip at the 11th hour.

A key Saudi delegation comprising dozens of investors already arrived in Islamabad on a three-day visit on Sunday to explore investment opportunities.

The delegation is led by Saudi Deputy Investment Minister Ibrahim Almubarak and is scheduled to hold business-to-business (B2B) meetings with Pakistani companies, focusing on enhancing trade ties between investors and identify trade and investment opportunities across various sectors of the economy.

The B2B meetings will target sectors such as agriculture, mining, human resource, energy, chemicals, and maritime. Discussions will also cover investment prospects in other sectors, including IT, religious tourism, telecom, aviation, construction, water and power generation, he added.

Copyright Business Recorder, 2024

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