Pakistan is poised to sign $2 billion deals with a Saudi delegation visiting next week, in a bid to enhance bilateral economic relations. Prime Minister Shehbaz Sharif confirmed the agreements during a federal cabinet meeting, expressing optimism about the upcoming visit. The delegation, headed by Saudi Minister for Investment Khalid Bin Abdulaziz Al-Falih, will be in Pakistan from October 9 to 11. These agreements will precede the Shanghai Cooperation Organisation (SCO) summit in Pakistan, scheduled for October 15-16, and are expected to strengthen economic collaboration between the two nations.
Pakistan to Sign $2 Billion Deals with Saudi Delegation
The Saudi delegation, which includes representatives from both government and private sectors, aims to improve economic ties with Pakistan through a series of agreements. The $2 billion deals are a key part of this initiative, covering investments in critical sectors such as energy, infrastructure, and trade. Both countries have enjoyed a long-standing relationship, and these agreements signify a continuation of their mutual cooperation. The federal cabinet ratified the agreements as part of a strategy to promote economic growth and political stability in Pakistan.
Further Developments Ahead of the SCO Summit
In addition to the Pakistan-Saudi deals, the federal cabinet also approved several other key initiatives. Among these is the designation of Gwadar Port and Shanghai Port as sister ports, a move that is expected to boost Pakistan’s trade profile. Moreover, measures were taken to support the fishing sector and enhance e-governance, further highlighting Pakistan’s focus on sustainable growth. As the SCO summit approaches, Pakistan continues to prioritize its international partnerships to solidify its position in the regional economic sector.
Read more: Pakistan Gets Greenlight for $2 Billion Funding From Saudi Arabia; Claims Sources
