Saudi Arabia, Pakistan to discuss possible support for Kingdom’s $3 billion deposit
JEDDAH: Saudi Arabia and Pakistan will discuss the possibility of supporting the Kingdom’s $3 billion deposit in Pakistan’s central bank by extending its term “or through other options”, a joint statement said on Sunday.
Pakistan also welcomed Saudi Arabia’s decision to extend a deal to finance exports of crude oil products and petroleum derivatives, the Saudi Press Agency reported.
The statement came after a visit by Pakistani Prime Minister Shehbaz Sharif to Saudi Arabia, where he met with Crown Prince Mohammed bin Salman.
During the meeting, the two sides stressed the importance of strengthening work through the Saudi-Pakistani Supreme Coordination Council, diversifying bilateral trade between the two countries and stepping up communications between the private sector of the two countries to discuss and translate trade and investment opportunities. in concrete partnerships.
They also discussed options to improve the financing of petroleum products and support economic reforms in Pakistan.
The two sides agreed to deepen and accelerate investment cooperation between the two countries, boost partnerships and enable investment integration opportunities between their private sectors.
They agreed on joint efforts to develop investments in both countries and support a number of sectors of common interest. The two men stressed the importance of cooperation in the industrial and mining sectors, their determination to organize investment forums highlighting opportunities in their respective countries, and urged the commercial sectors to work together to solve the challenges. faced by investors. Both sides also welcomed private sector investment partnerships in agriculture and food industries.
They underscored the importance of cooperation on the opportunities offered by economic transformation programs under Vision 2030, and of leveraging Pakistan’s experience and capabilities in a number of sectors. The two sides also agreed to strengthen media cooperation in the areas of radio, television and news gathering.
In the area of environment and climate, the Pakistani side said it appreciates the Kingdom’s efforts and initiatives in addressing environmental challenges and improving the quality of life.
Pakistan also welcomed the Kingdom’s launch of the Green Saudi Initiative and the Green Middle East Initiative, expressing support for the circular carbon economy approach, which was pioneered by Saudi Arabia and endorsed by the G20.
In the same context, both parties stressed the importance of adhering to the principles of the United Nations Framework Convention on Climate Change and the Paris Agreement, and the need to develop climate agreements in focusing on emissions without sources.
The two countries agreed to discuss ways of joint cooperation in innovative uses of hydrocarbons, electric power, clean hydrocarbon technologies, energy efficiency, in addition to working on the localization of energy sector products and their associated supply chains, as well as working on renewable energy projects such as solar and wind power.
The two sides agreed on the importance of continuing to coordinate their positions, consolidating security and stability, rejecting violence, extremism and terrorism, supporting the unity and independence of the region and their territorial integrity, and to give priority to political solutions to conflicts.
They reiterated their support for the efforts of the coalition forces to restore the legitimacy of the government in Yemen and for the numerous initiatives aimed at achieving a comprehensive political solution to the Yemeni crisis in accordance with United Nations Security Council Resolution 2216, the Gulf Initiative and its executive mechanisms, and the outcomes of the National Dialogue Conference.
Both sides renewed their condemnation of the threat posed by the Houthi terrorist militia to the stability and security of the Kingdom by launching ballistic missiles against vital installations and civilians, expressing deep concern over the threat to the security of oil exports and the stability of world energy supplies.
Saudi Arabia welcomed Sharif’s emphasis on his country’s concern to resolve all outstanding disputes with India, including the Jammu and Kashmir issue.
The two sides discussed the development of the Palestinian cause, stressing the importance of preserving the status of Al-Quds and the Islamic character of Al-Quds Al-Sharif among Arab and Islamic nations.
On the Syrian issue, both sides stressed the importance of reaching a political solution to the crisis that realizes the aspirations of the Syrian people and preserves Syria’s unity and territorial integrity, stressing the need to end the interference regional.
They discussed Afghanistan and agreed on the need to ensure security and stability and to prevent the use of Afghan territories as a haven for terrorist groups.
They also expressed their hope that Russia and Ukraine will reach a political solution that would end the crisis in Europe.