Islamabad: Foreign Minister Shah Mehmood Qureshi has invited Saudi Arabia to invest in the economic zones formed under the China-Pakistan Economic Corridor (CPEC) project, a news source reported. Qureshi met with his Saudi counterpart, Foreign Minister Adel Al-Jubeir, on the side-lines of Crown Prince Mohammad bin Salman’s visit.
The two ministers discussed matters of mutual interest during the meeting. Qureshi said that both countries will launch a strategic partnership with each other, and that Gwadar would turn into an economic hub due to CPEC.
More agreements are expected to be signed after the crown prince’s visit as well.
Finance Minister Asad Umar also met Saudi Minister for Energy Khalid al-Falih. The finance minister reported that energy projects worth billions of dollars were discussed during the session. He informed that Saudi company ACWA Power had expressed interest to invest in Pakistan’s energy sector.
The finance minister expects this move would significantly lower Pakistan’s import bill.
