Saudi Arabia, Pakistan accelerate implementation of $5bln investment package

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Saudi Arabia and Pakistan have committed to expediting the implementation of a previously agreed upon $5 billion investment package.

This was announced in a joint statement following a meeting between Crown Prince and Prime Minister of Saudi Arabia Mohammed bin Salman and Pakistani Prime Minister Muhammad Shehbaz Sharif at Al-Safa Palace in Makkah on Sunday. This move is a significant step toward bolstering economic ties and is indicative of the strong relationship between the two countries.

Prince Mohammed bin Salman warmly congratulated Shehbaz Sharif on his recent inauguration and expressed his best wishes for his term in office. Prime Minister Sharif, in response, thanked the Kingdom for its continuous support and hospitality, reaffirming Pakistan's dedication to enhancing the bilateral partnership and economic collaboration.

The conversation between the leaders centered on deepening the fraternal ties between Saudi Arabia and Pakistan, with a specific focus on boosting trade and investment connections. The acceleration of the $5 billion investment package reflects the mutual interest in strengthening economic cooperation and the commitment to achieve mutual economic growth.

The leaders also discussed critical regional and global issues, including the critical situation in Gaza. They called for an immediate halt to Israeli military operations, emphasizing the importance of global intervention to ensure compliance with international laws and the delivery of humanitarian aid to Gaza. The dialogue also covered the advancement of the peace process, aiming for a just and comprehensive solution that acknowledges the establishment of an independent Palestinian state with East Jerusalem as its capital.

The meeting highlighted the necessity of dialogue between Pakistan and India, particularly for resolving the long-standing Jammu and Kashmir dispute, to ensure regional peace and stability.

In a gesture of mutual respect and continued collaboration, Prime Minister Sharif invited the Crown Prince for an official visit to Pakistan, which he accepted.