Saudi trade delegation’s visit significant headway in bilateral ties: PM
- By Web Desk -
- May 07, 2024
ISLAMABAD: Prime Minister (PM) Shehbaz Sharif on Tuesday said that the visit of Saudi investment delegation to Islamabad was a significant headway in the relationship between Pakistan and Saudi Arabia.
The prime minister, chairing a meeting of the federal cabinet, appreciated the federal ministers, government officers and staffers for their efforts to ensure the success of the Saudi delegation’s visit, a PM Office press release said.
PM Shehbaz said that the head of Saudi delegation was appreciative of the determination and preparation demonstrated by the cabinet members during the investment conference.
A key Saudi delegation comprising dozens of investors arrived in Pakistan on a three-day visit to explore investment opportunities.
The purpose of the visit is to enhance trade ties between investors from both countries and identify trade and investment opportunities across various sectors of national economy.
The Commerce Ministry picked several Pakistani companies for business-to-business (B2B) meetings with the Saudi investors and disclosed that “leading” Pakistani companies would collaborate with at least 30 Saudi companies across different sectors. During the meetings, local companies will present their business and investment proposals to their Saudi counterparts.
The B2B meetings will target sectors, such as agriculture, mining, human resource, energy, chemicals, and maritime. Moreover, discussions will also cover investment prospects in other sectors, including IT, religious tourism, telecom, aviation, construction, water and power generation.
Meanwhile, the federal cabinet today, on the recommendation of the Ministry of Aviation, accorded approval to Air Sial to launch its flight operations for China, Malaysia, Sri Lanka, Thailand, Turkiye, the UK and Kuwait. The approval was granted under the National Aviation Policy 2023 and Air Services Agreement.
The cabinet gave a nod to the signing of Memorandum of Understanding for formation of Joint Trade Committee between Pakistan and Kingdom of Columbia.
The cabinet approved to transfer the control of Directorate General of Special Education from the Human Rights Ministry to the Ministry of Federal Education and Professional Training.
The body also endorsed the decisions of Cabinet committee on Chinese investment projects taken in its meeting held on April 30, 2024.