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Tuesday, June 25, 2024  
18 Dhul-Hijjah 1445  

Joint statement: Saudi Arabia to expedite $5 billion investment in Pakistan

Kashmir issue also mentioned; Bin Salman accepts Sharif's invitation for Pakistan visit
Mohammed bin Salman and Shehbaz Sharif  met on Sunday evening in Makkah
Mohammed bin Salman and Shehbaz Sharif met on Sunday evening in Makkah

Pakistan and Saudi Arabia on Monday issued a joint statement after a key meeting between Saudi Crown Prince Mohammed bin Salman and Pakistani Prime Minister Shehbaz Sharif a day earlier.

The statement indicated that Saudi Arabia will expedite its $5 billion investment in Pakistan.

The two leaders, who met on Sunday evening in Makkah, also discussed Palestine and Kashmir issues and supported talks between Pakistan and India.

The Saudi crown prince felicitated Shehbaz Sharif on becoming prime minister of Pakistan and “and expressed warm wishes for his tenure.”

“Prime Minister Muhammad Shehbaz Sharif, in turn, conveyed gratitude for the Kingdom’s steadfast support and hospitality, and reaffirmed Pakistan’s commitment to bolstering bilateral ties and economic cooperation,” said the joint statement released by Saudi and Pakistani ministries.

It said the discussion between Mohammad Bin Salman and Shehbaz Sharif “centered on fortifying the fraternal relations between the two brotherly nations and exploring avenues for enhanced collaboration across various sectors.”

“Emphasis was placed on the Kingdom’s supportive role in Pakistan’s economy and the mutual desire to strengthen trade and investment ties. Both parties affirmed their commitment to expediting the first wave of investment package worth $ 5 billion which was discussed previously,” the statement said.

There was a detailed discussion on the issue of Gaza.

“Both leaders also exchanged views on regional and global developments of mutual interest, including the worrying situation in Gaza. They urged for international efforts to halt Israeli military operations in Gaza, mitigate humanitarian impact and underscored the imperative for the international community to pressure Israel to cease hostilities, adhere to international law, and facilitate unhindered humanitarian aid access to Gaza. They discussed the need for advancing the peace process in accordance with relevant resolutions of the Security Council and the General Assembly as well as the Arab Peace Initiative aimed at finding a just and comprehensive solution, for the establishment of an independent Palestinian state with East Jerusalem as its capital.”

The statement also mentioned the Kashmir dispute between Pakistan and India.

“The two sides stressed the importance of dialogue between Pakistan and India to resolve the outstanding issues between the two countries, especially the Jammu and Kashmir dispute to ensure peace and stability in the region.”

The crown prince also accepted Shehbaz Sharif’s invitation for a visit to Pakistan at the earliest convenience.