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Saudi Crown Prince MBS is expected to visit Pakistan this week to boost investment and trade

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Saudi Crown Prince MBS is expected to visit Pakistan this week to boost investment and trade

Saudi Crown Prince Mohammed Bin Salman, also known as MBS, is expected to visit Pakistan between May 10 to 15, according to sources cited by Geo News. This would be the first visit of the Saudi Prime Minister to Pakistan in five years. The visit aims to materialize $5 billion investment in Pakistan across diverse sectors, which would further strengthen the bilateral relationship between the two countries.

The visit of the Saudi Crown Prince holds immense potential for Pakistan, which is eagerly anticipating significant investment from Saudi Arabia in various fields. This visit is expected to materialize the understanding reached between both countries during Prime Minister Shehbaz Sharif’s recent visit to the kingdom, which could result in Saudi investments worth $5 billion in Pakistan, bringing about a transformative change in the country’s economic landscape.

The Saudi crown prince was earlier expected to visit Pakistan in 2023 as part of his regional tour, which was eventually called off. However, a government spokesperson stated that the date of the Saudi crown prince’s visit had not been finalized yet.

A 50-member high-level Saudi trade delegation, led by the Deputy Investment Minister of Saudi Arabia Ibrahim Almubarak, is already in Pakistan. The delegation, which arrived in Islamabad on May 5, is on a two-day official visit to explore various avenues of trade and investment ahead of Prince Salman’s expected arrival. The companies represented in the delegation span a wide range of economic sectors, including information technology, telecoms, energy, aviation, construction, mining exploration, agriculture, and human resource development, showcasing the diverse potential for trade and investment between the two countries.

Prior to the trade delegation, Saudi Foreign Minister Prince Faisal Bin Farhan arrived in Pakistan on a two-day visit last month, during which he pledged that the kingdom would play its all-out role in the economic development of its brotherly country. The visit of the Saudi crown prince holds much significance for Pakistan, which is looking to strengthen its economic ties with the Kingdom.

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