Saudi delegation to visit Pakistan to explore investment opportunities

A high-level Saudi Arabian delegation will visit Pakistan by the end of this month to explore investment opportunities in the China-Pakistan Economic Corridor (CPEC), media reports said on Saturday.

The state-run Associated Press of Pakistan quoted Nawaf Saeed Al Malikiy, Saudi ambassador to Pakistan, as saying that the Saudi Arabian group, comprising ministers and heads of various divisions, will reach Pakistan during the last week of November.

"A board is coming, comprising different ministries, and Saudi Ministry of Commerce to exchange ideas relating to investment opportunities in Pakistan in various projects like CPEC, Gwadar Port," the ambassador said.

Appreciating the ongoing defence cooperation between the two countries, Al Malikiy said they would sit with Pakistani side to discuss specific features for investment in Pakistan, and how the two sides can further strengthen bilateral relations and to enhance mutual cooperation in different fields, Xinhua news agency reported.

Ahsan Iqbal, Pakistan's Federal Minister for Planning, Development, and Reforms, welcomed the interest shown by Saudi Arabia, saying: "We will welcome the brotherly Islamic country if they want to be part of CPEC."

Iqbal said Pakistan would also welcome and appreciate any friendly country which desired to participate in the multi-billion gigantic flagship project of the Road and Belt Initiative proposed by China.

In August this year, Pakistani Prime Minister Shahid Khaqan Abbasi had a meeting with Saudi Crown Prince Muhammad bin Salman Al Saud in Saudi Arabia and assured him of continued cooperation and collaboration to the benefit of both countries