Asharq Al-awsat English https://aawsat.com/english Middle-east and International News and Opinion from Asharq Al-awsat Newspaper http://feedly.com/icon.svg

Saudi Crown Prince to Visit Pakistan as Part of Asian Tour that Includes China, India

Saudi Crown Prince to Visit Pakistan as Part of Asian Tour that Includes China, India

Saturday, 16 February, 2019 - 06:45
Saudi Crown Prince Mohammed bin Salman. (SPA)
Islamabad – Mohammed al-Ayedh, Fateh Rahman Youssef
Saudi Arabia's Crown Prince Mohammed bin Salman, Vice President of the Council of Ministers and Minister of Defense, will arrive in Pakistan Sunday as part of an Asian tour that shall also include China and India.

He is expected to sign a number of memorandums of understanding for investments in different fields.

The Crown Prince will also meet Chinese President Xi Jinping and Vice-Premier Han Zheng next Wednesday.

The visit to China seeks to "promote the greater development of Sino-Saudi relations" and "deepen cooperation" on China's "Belt and Road" economic and trade diplomacy initiative, Foreign Ministry spokesman Geng Shuang said.

For his part, Pakistan’s Finance Minister Asad Umar underlined the importance of this upcoming visit by the Saudi Crown Prince to his country.

He told a Saudi media delegation that the weekend's trip will have a clear impact on Pakistan’s economy and the interests of both countries.

A coordination council is set to be established between Riyadh and Islamabad during the Crown Prince’s visit. It will help shape long-term economic relations, as well as draw political and investment roadmaps, between the two sides.

Commenting on the agreements that will be signed during the Crown Prince’s visit, Umar revealed that they will yield successful results because Pakistan boasts strong natural resources and only requires the necessary capital to invest in them.

Such capital exists in Saudi Arabia, he stressed.

“We therefore hope that the deals will help revive the Pakistani economy,” said the minister.

Among the Saudi projects planned for Pakistan is the establishment of an oil refinery at the Gwadar Port that will allow Islamabad to benefit from Saudi oil products and consequently provide hard currency in Pakistan that will help combat inflation.

In turn, Saudi Arabia will reap investment benefits, added Umar.

He also compared Saudi Arabia’s Vision 2030 to Pakistan’s Vision 2025, saying their countries boast a youthful society and leaderships that are keen on investing in their potential.

“We have closely monitored the efforts exerted by Crown Prince Mohammed in achieving Vision 2030, which will have a positive impact on Saudi Arabia and Pakistan as a brotherly nation,” he remarked.

Federal Minister for Port and Shipping Ali Haider Zaidi stressed that the security situation in Pakistan has improved significantly and Saudi Arabia’s billions of riyals in investments are evidence of this.

He stated that the Crown Prince’s visit will yield positive results on maritime projects in Pakistan.

Editor Picks

Multimedia