Pakistan and Saudi Arabia will talk about increasing their $3 billion in economic aid.

Pakistan and Saudi Arabia will discuss boosting their $3 billion economic aid

At the end of Prime Minister Shehbaz Sharif’s three-day official visit to Saudi Arabia, the two countries issued a joint statement.

On the invitation of Saudi Crown Prince Muhammad bin Salman, the prime minister and a delegation paid a visit. In terms of politics, the two sides discussed issues of mutual concern at the regional and international levels, and agreed that it is critical to continue coordinating their positions in a way that benefits their respective interests.

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Both sides have reaffirmed their commitment to consolidate security and stability, to reject violence, extremism, and terrorism, to support regional unity and independence, as well as territorial integrity, and to prioritise political solutions that bring prosperity and progress to the region and its people.

The Kingdom of Saudi Arabia reaffirmed its ongoing support for Pakistan and its economy, including discussions about extending the term of a $3 billion deposit with the central bank, exploring options to improve the financing of petroleum products, and supporting economic structural reforms for the benefit of Pakistan and its people.

“Pakistan greatly appreciates the Kingdom of Saudi Arabia’s continued strong support for Pakistan,” the statement said.

The two sides agreed to continue exchanging support and coordination in international organisations and forums, emphasising the importance of all countries’ commitment to the United Nations Charter and international law, as well as adherence to the principles of good neighbourliness, respect for state unity and sovereignty, non-interference in internal affairs, and striving to resolve disputes through peaceful means.

According to Saudi Arabia, Pakistan’s statements expressing a desire to resolve all disputes with India, including the Jammu and Kashmir conflict, were welcomed. The two sides emphasised the importance of dialogue between Pakistan and India in order to resolve bilateral issues and maintain regional peace and stability.

During an official meeting between the prime minister and the Saudi crown prince, they discussed ways to strengthen relations in all areas, as well as their historical relations and close cooperation in various fields.

The two sides emphasised the importance of bolstering cooperation through the Saudi-Pakistani Supreme Coordination Council, diversifying trade, and increasing private-sector communication in order to discuss trade and investment opportunities and turn them into concrete partnerships.

The two sides also agreed to strengthen bilateral investment cooperation, encourage partnerships, and facilitate investment integration opportunities between the two countries’ private sectors.

They also agreed to work together to improve the investment climate in both countries and to support a number of investment sectors that are of mutual interest.

Through meetings of the Saudi-Pakistani Business Council, the two sides expressed their intention to hold investment forums in order to introduce available opportunities to both sides’ business sectors, encourage them to form partnerships in various investment fields, and work together to solve the challenges faced by investors.

The entry of the private sector of both countries into investment partnerships in the agricultural and food industries was warmly welcomed by both sides. They expressed their hope that the Russian and Ukrainian sides would reach a political agreement that would end the crisis, bring security and stability to the region, and limit negative regional and international consequences.

The two sides discussed the latest developments in Afghanistan and agreed on the importance of achieving security and stability, as well as preventing terrorist groups from using Afghan lands as a base of operations, and continuing concerted efforts to provide aid to Afghans.

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