By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif reached Riyadh on Monday to lead a high-level delegation at the ninth edition of the Future Investment Initiative, a global summit convened under the auspices of Saudi Arabia’s sovereign wealth fund, amid efforts to bolster economic and security cooperation between the two longtime allies.
The visit, at the invitation of Saudi Crown Prince Mohammed bin Salman, underscores the deepening relationship between Islamabad and Riyadh, which has included a recent defence pact and billions in investment pledges. Sharif’s agenda includes meetings with Saudi leaders to explore enhanced cooperation in trade, investment, energy and human resources, as well as discussions on regional and global issues.
The summit, known as FII9, brings together global leaders, investors, policymakers and innovators to address the theme “The Key to Prosperity: Unlocking New Frontiers of Growth.” Thematic discussions will focus on global challenges and opportunities, with emphasis on innovation, sustainability, economic inclusion and geopolitical shifts. The event was launched in 2017 by Saudi Arabia’s Public Investment Fund as part of its Vision 2030 program, aimed at diversifying the kingdom’s economy beyond oil. It serves as a platform to explore investment opportunities and advance technologies such as artificial intelligence, robotics and green finance.“
Prime Minister Muhammad Shehbaz Sharif departs for Riyadh, KSA, to attend the 9th Edition of Future Investment Initiative,” the Prime Minister’s Office said in a statement announcing the trip. The delegation accompanying Sharif includes Deputy Prime Minister and Foreign Minister Ishaq Dar, Finance Minister Muhammad Aurangzeb, Information Minister Attaullah Tarar, and the prime minister’s aides Tariq Fatemi and Bilal Bin Saqib, according to the statement from the Prime Minister’s Office.
Pakistan’s Foreign Office said in a statement on Sunday that during the visit, Sharif would engage with the Saudi leadership to pursue avenues for expanded collaboration in key sectors. “The discussions will also cover regional and global issues of mutual interest and concern,” the Foreign Office added. On the sidelines of the summit, Sharif plans to interact with leaders from other participating countries and heads of international organizations.
The Foreign Office said these exchanges would highlight Pakistan’s investment potential and its readiness to pursue collaborations in sustainable development, in line with the “Think, Exchange, and Act” model. The Prime Minister’s Office said Sharif would meet global leaders and heads of international organizations attending the FII. “These meetings will center around investment opportunities and sustainable development in Pakistan, exploring avenues for increased collaboration,” his office said.
Pakistan and Saudi Arabia have long enjoyed close ties rooted in faith, mutual respect and strategic cooperation, with Riyadh serving as a key political and economic partner for Islamabad. The kingdom hosts more than 2.5 million Pakistani expatriates, who provide the largest source of remittances to Pakistan’s $407 billion economy. In recent years, the two nations have sought to broaden their cooperation. Last year, they signed 34 memorandums of understanding worth $2.8 billion across multiple sectors. During Sharif’s visit to Riyadh on Sept. 18, the countries formalised their decades-old security ties with a landmark defense pact. Under the agreement, an attack on one country will be considered an attack against both.
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