PM Shehbaz Sharif arrives in Saudi Arabia on two-day official visit

RIYADH: Prime Minister Shehbaz Sharif on Monday arrived in Saudi Arabia on a two-day visit, mainly to attend the Future Investment Initiative Summit being held from October 25-27, ARY News reported.

According to details, the prime minister is visiting the Kingdom at the invitation of Saudi Crown Prince Mohammed Bin Salman bin Abdulaziz.

At the airport, the Governor of Riyadh Faisal bin Bandar bin Abdulaziz Al Saud received the prime minister who was accompanied by a delegation comprising the federal ministers.

Prior to his departure from Nur Khan Air Base, the premier in a series of tweets said the present state of the global economy needed “new thinking and bold vision to overcome the irritants and forge new paths”.

There are serious concerns about the threat of global recession hitting the economies. The pandemic & climate-induced disasters have already put immense strains on the developing countries. High time the world explored solutions to the deepening challenges through candid dialogue https://t.co/n0KdODZRZx

— Shehbaz Sharif (@CMShehbaz) October 24, 2022

PM Shehbaz Sharif said there were serious concerns about the threat of global recession hitting the economies.

“The pandemic and climate-induced disasters have already put immense strains on the developing countries,” he said, adding that it was high time the world explored solutions to the deepening challenges through candid dialogue.

Meanwhile, the Foreign Office in a statement said: “During his stay in Riyadh, the prime minister will hold consultations with the Saudi Crown Prince to review the longstanding fraternal relations, with a view to further strengthening the multifaceted cooperation, especially in the economic field.”

Pakistan, in the wake of statements made against the Kingdom in the context of the Organization of Oil Exporting Countries (OPEC+) decision, expressed solidarity with the leadership of Saudi Arabia.

“We appreciate the concerns of the Kingdom of Saudi Arabia for avoiding market volatility and ensuring global economic stability,” the Foreign Office said in a statement.

The statement added, “Pakistan encourages a constructive approach on such issues based on engagement and mutual respect.”

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“We reaffirm our long-standing, abiding and fraternal ties with the Kingdom of Saudi Arabia,” the statement maintained.

Earlier this month, Opec+, the producer group comprising the Organisation of the Petroleum Exporting Countries (Opec) plus allies including Russia, agreed to reduce two million barrels per day from November.