Pakistan and Saudi Arabia have signed 27 Memorandums of Understanding (MOUs) worth more than 2 billion dollars, while Prime Minister Shahbaz Sharif has said that he welcomes Saudi Arabia’s investment of more than 2 billion dollars.
Prime Minister Shahbaz Sharif, Saudi Arabia’s Minister of Investment Khalid bin Abdulaziz Al Falih, Army Chief General Asim Munir were also present at the signing ceremony of the Memorandum of Understanding (MoUs).
The two countries exchanged signed copies of MoUs in industry, agriculture, information technology (IT), food, education, mining, health, petroleum, energy, minerals and other areas of mutual cooperation.
In the event, it was agreed to increase cooperation between the two countries in the fields of textiles, construction sector, transport energy, petroleum, cyber security.
In the ceremony, it was also agreed to increase the export of spices and vegetables between Saudi Arabia and Pakistan, while a memorandum of understanding was also signed between the two countries regarding skilled manpower.
Memorandums of understanding were also signed between the two countries for the production of semiconductors.
Speaking at the signing ceremony of MoUs in various fields between Pakistan and Saudi Arabia in Islamabad, the Prime Minister said that cooperation agreements with Saudi Arabia are new developments.
He said that the visit of the Saudi delegation to Pakistan was very happy. Your visit to Pakistan is a true manifestation of sincerity and love for the people of Pakistan.
He said that today’s ceremony will create more such opportunities in the future, we will convert these MoUs into practical agreements in the coming times.
The Prime Minister said that Saudi Investment Minister Khalid Abdulaziz Al-Falih has played an important role in developing the Saudi economy, with his presence here we are sure that bilateral investment between the two countries will be promoted, Saudi Crown Prince Mohammed Bin Salman is interested in the development of Pakistan.
Shahbaz Sharif said that recently we signed a loan agreement with the International Monetary Fund (IMF) and we hope that this will be our last IMF program, Saudi Arabia played a very important role in getting this program. After all, this program could not have been achieved without their and China’s support.
He said that our economic indicators are improving and this month the rate of inflation in the country has decreased from 32% to 6.9%. Our exports and remittances have also increased. is heading towards
He said that Saudi Arabia and Pakistan are two brotherly countries whose relations span many centuries. Saudi Arabia has helped Pakistan in all its difficulties. These fraternal relations have to be transformed into economic development, mutual cooperation and investment.
