Prime Minister Shehbaz Sharif held talks with Saudi Crown Prince Mohammed bin Salman in Riyadh on Tuesday, focusing on strengthening bilateral ties and advancing Pakistan’s economic agenda. The meeting took place on the sidelines of the eighth annual Future Investment Initiative (FII) summit, where international business, technology, and finance leaders convened to explore collaborations with Saudi Arabia’s $925 billion sovereign wealth fund.
Prime Minister Sharif’s visit to Riyadh follows recent agreements, totaling over $2 billion, signed between Saudi and Pakistani businesses during Saudi Investment Minister Khalid bin Abdulaziz Al-Falih’s visit to Islamabad. The talks highlighted ongoing collaboration, with Sharif’s office noting, “The two leaders reviewed bilateral engagements, especially following decisions made in prior high-level meetings held in Makkah and Riyadh in April 2024.”
In April, Saudi Arabia reaffirmed its commitment to expedite a $5 billion investment package aimed at bolstering Pakistan’s economy. During Tuesday’s meeting, Prime Minister Sharif outlined Pakistan’s economic, institutional, and policy reforms, acknowledging the Kingdom’s essential role in Pakistan’s future economic plans. He also expressed appreciation for Saudi Arabia’s contributions to regional peace, underscoring Pakistan’s support in those efforts.
Partnerships in AI, Education, and Health
Earlier at the FII summit, Prime Minister Sharif addressed Pakistan’s commitment to a knowledge-based economy, emphasizing partnerships in artificial intelligence (AI), education, and health. “We are laying the foundation for a knowledge-driven economy, prioritizing AI, education, and healthcare innovation and inviting global collaborations in these areas,” he stated. The summit this year emphasized investment opportunities in AI, robotics, energy, space, finance, and sustainability.
Sharif highlighted Pakistan’s skilled workforce and the nation’s focus on training in emerging technologies, with over 275,000 registered doctors and a strong youth presence in health-tech innovation. “Our aim is a future where Pakistani doctors and scientists can work across borders for a healthier tomorrow,” he said, extending an invitation to investors and specialists to contribute to Pakistan’s “future rooted in resilience and shared prosperity.”
With Islamabad’s drive to enhance trade and investment partnerships, particularly with Saudi Arabia, this meeting comes at a pivotal time. The Kingdom’s planned $5 billion investment package will play a critical role in helping Pakistan stabilize its economy and address its balance of payment challenges.
