A high-level delegation from Saudi Arabia, led by Foreign Minister Prince Faisal bin Farhan Al Saud, is in Pakistan for a two-day visit starting today, April 15th. The visit underscores Saudi Arabia’s growing economic commitment to Pakistan.
The delegation includes key figures from Saudi Arabia’s water, agriculture, industry, and investment sectors. Meetings are planned with Pakistani President, Prime Minister, Foreign Minister, and other officials.
This visit follows a recent agreement between Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman to strengthen economic cooperation. Last week, Saudi Arabia increased its deposits in Pakistan’s central bank to $5 billion.
Discussions are expected to focus on finalizing a $21 billion investment package in Pakistan. This includes establishing a $7 billion copper mine and a $14 billion oil refinery. Reports also suggest Saudi Arabia may invest up to $1 billion in the Reko Diq gold and copper mine.
This visit is a significant step towards a stronger economic partnership between Pakistan and Saudi Arabia.
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