Saudi Arabia’s Investment Minister, Khalid bin Abdulaziz Al-Falih, will visit Pakistan from October 9 to 11, accompanied by a high-level delegation, Pakistan’s foreign office confirmed on October 7. The visit is expected to strengthen bilateral cooperation and economic partnership between the two countries.
“A high-level Saudi delegation led by Minister for Investment Engineer Khalid bin Abdulaziz Al-Falih will visit Pakistan from 9th to 11th of October 2024,” stated Mumtaz Zahra Baloch, spokesperson for Pakistan’s foreign office, during a press briefing.
Strengthening Pakistan-Saudi economic ties
Al-Falih’s delegation will include representatives from Saudi Arabia’s governmental agencies and the private sector. They are scheduled to meet both Pakistan’s Prime Minister and President to discuss avenues for increased collaboration. “This visit is aimed at lending positive impetus to enhanced bilateral cooperation and mutually rewarding economic partnership,” Baloch added.
In recent months, Pakistan and Saudi Arabia have intensified efforts to boost trade and investment. Earlier this year, Crown Prince Mohammed bin Salman reiterated the Kingdom’s commitment to accelerating a $5 billion investment package for Pakistan, underscoring Saudi Arabia’s intent to strengthen economic ties with Islamabad.
Pakistan’s economic focus
Facing ongoing economic challenges, Pakistan is looking to solidify its relationships with regional partners, particularly Saudi Arabia and other Middle Eastern allies. The government views foreign trade and investment as critical to overcoming its prolonged economic crisis, marked by resource depletion, soaring inflation, and a weakening currency.
Pakistan condemns Israeli attacks on Gaza
In a separate statement, Baloch expressed condolences for the 42,000 lives lost due to the actions of Israeli armed forces in the ongoing conflict in Gaza, which escalated on October 7, 2023. She conveyed Pakistan’s deep concern regarding the humanitarian crisis faced by the people of Gaza and Palestine, who are enduring starvation and what she termed as genocide.
“The past year has seen Israel’s indiscriminate and horrifying attacks on civilian targets, including hospitals, schools, and shelters,” Baloch remarked, emphasizing the urgent need for international intervention.
The foreign office spokesperson called for decisive action from the United Nations Security Council, urging the imposition of an immediate ceasefire in Gaza and insisting that Israel must be held accountable for its alleged “war crimes” in the region.