Prime Minister Shehbaz Sharif has departed for a two-day visit to Saudi Arabia, where he will represent Pakistan at the eighth edition of the Future Investment Initiative (FII) conference in Riyadh. The announcement was made by his party, the Pakistan Muslim League-Nawaz (PML-N), on Tuesday.
Since its inception in 2017, the FII conference has served as an annual platform that brings together global investors to discuss and promote promising solutions across various sectors. This year’s conference, themed “Infinite Horizons: Investing Today, Shaping Tomorrow,” will take place from October 29 to 31 and will focus on investment as a catalyst for fostering a prosperous and sustainable future.
The PML-N shared on Instagram that Prime Minister Sharif’s visit aims to strengthen Pakistan’s economic ties with Saudi Arabia, highlighting the importance of this engagement.
According to a statement from the foreign office, Prime Minister Sharif is expected to hold bilateral discussions with Crown Prince Mohammed bin Salman and other key Saudi officials. These talks will cover the economic and strategic partnership between the two nations, as well as cooperation in the fields of energy and defense.
In addition to these discussions, Sharif will engage with leaders and entrepreneurs attending the FII conference, furthering the dialogue on investment opportunities.
Earlier this year, the Prime Minister met with the Crown Prince during the World Economic Forum in Riyadh, where they addressed bilateral relations and regional issues, including the ongoing conflict in Gaza.
Pakistan and Saudi Arabia share strong trade, defense, and cultural ties, with Saudi Arabia being home to over 2.7 million Pakistani expatriates and a primary source of remittances for Pakistan.
Both nations are actively working to enhance bilateral trade and investment agreements. Recently, Saudi Arabia reaffirmed its commitment to expedite a $5 billion investment package, which is crucial as Pakistan seeks to strengthen its economic position amidst a challenging macroeconomic environment characterized by dwindling foreign exchange reserves and rising inflation.
