Saudi Shura Council Briefed on CPEC Project
Saudi Arabia is keen to benefit from Economic Prospects offered by Gwader: Members of the Saudi Shura Council
Pakistan now offers conducive environment for multi-sector investment and Saudi investors can benefit from the investment opportunities
Mutual trust and confidence has reached new heights recently in the decades long friendship between Pakistan and Saudi Arabia, observes Chairman Senate
Saudi Arabia has expressed its keen interest for exploring more avenues for investment in Gwadar as there is huge potential for trade and economic activities. This was deliberated during a meeting of Chairman of Saudi Shura Council with Chairman Senate Muhammad Sadiq Sanjrani at a reception hosted in honor of the Saudi Shura Council.
Senate Chairman while talking Chairman of Saudi Shura Council Dr. Abdullah Bin Muhammad Bin Ibrahim Al-Shaikh on Thursday and addressing a reception in honour of the visiting delegation at a local hotel has observed that mutual trust and confidence has been witnessed in the decades long friendship between the two sides. Referring to the investment opportunities in Pakistan, the Senate Chairman observed that conducive environment exists for multi-sector investment and Saudi investors can benefit from the investment opportunities.
Sanjrani considered the visit of Saudi Crown Prince Muhammad Bin Salman highly important as it will help in laying the foundation for a new era of cooperation. Chairman Senate said that Saudi investment has helped in rejuvenating the confidence of international community on Pakistan.
He said that during visit of the Crown Prince, MoUs envisaging Saudi investment worth US$ 20 billion were signed which is a manifestation of the fact that Saudi Arabia considers Pakistan an important country. He further said that the recent high level reciprocal visits would usher into a new era of economic cooperation. He called for developing an institutional mechanism and legal framework for better institutional collaboration. Sanjrani also praised vision 2030 unveiled by Saudi Arabia and hoped that the initiative would help reduce unemployment and develop linkages with international markets besides offering a win-win situation for all.
Both the leaders exchanged views on matters of mutual significance and bilateral importance. Chairman Senate Muhammad Sadiq Sanjrani has said that Pakistan and Saudi Arabia are intertwined into a relationship having its basis in religious, social, cultural and historical commonalities.
Chairman Senate also appreciated the launching of Pakistan Saudi Arabia Supreme Coordination Council, hoping that the Council would take tangible steps for promoting political, economic, social and cultural linkages. Chairman Senate welcomed the decision of increasing Hajj quota for Pakistanis and further reducing the visa fee saying that these steps would further help promote people to people contact. Chairman Senate expressed his well wishes to King Salman Bin Abdul Aziz and the Crown Prince Muhammad Bin Salman.
Chairman of the Saudi Shura Council thanked Senate Chairman and members of the Pakistan side for warm welcome. He said that Saudi Arabia accords high importance to its relations with Pakistan. He said that roots of our bilateral relations are deep rooted in history and people of both the countries share common aspirations. He said that mutual exchange of frequent delegations would further boost the linkages between the two countries. He agreed on enhancing institutional cooperation between Senate and the Shura Council. The members of the visiting delegation while talking on the occasion said that Saudi Arabia is very keen to benefit from the economics prospects being offered by future economic hub of the region and willing to invest in Gwadar.
Chairman Senate expressed hope that Saudi Arabia will explore investment in different areas. The cooperation in defence sector also came under discussion and both looked forward to enhanced cooperation.
The Saudi delegation also witnessed the Senate session. The reception was attended by the political leadership of the Senate, Federal Ministers and other dignitaries.
Earlier, the delegation of Saudi Shura Council was on Thursday given a comprehensive briefing on CPEC by the ministry of Planning, Development and Reforms and ministry of Maritime Affairs at the Pakistan Institute of Parliamentary Services. The briefing comprised of an overall picture of the corridor as well as possible avenues for investment in the projects under the corridor for Saud Arabia.
The delegation was briefed that CPEC aims to make Pakistan an economically sound and vivacious country and is the flagship project of the One Belt One Road initiative. Under the CPEC projects work will be carried out in energy, transport, infrastructure, industrial development, Gwadar port development, socio economic development, trade and market access, agricultural research and development. The projects will provide much needed boost to Pakistan’s economy and will be an instrument for regional integration.
The briefing told the visitors how Pakistan’s geographical position allows it to provide a well working connection between China, South Asia, Middle East and Central Asia. The viability of the project in terms of less time and distance as well as cost of business and transportation was also explicated upon. The institutional framework
Members of the Saudi delegation appreciated the work being carried out and expressed hope to increase cooperation not just though investment in the energy and infrastructure development but also in social development. Both sides expressed hope that with increased linkages on the government and parliamentary level both countries and its peoples can benefit. Saudi delegates acknowledged that this corridor is not just a project between two countries but will benefit the whole region with 2 billion people and 48 countries benefitting from it. The delegation was also told that around 15,000 soldiers of the Pakistan Army are being trained to control any untoward situation across the corridor.
The briefing also comprised a detailed overview of the Gwadar port, its current position, existing port facilities, port to port interaction agreements and the future plans in short, medium and long term. The importance of port in the development and success of any city and its adjoining areas was also explained.
Members of the Saudi Shura Council termed it a project equally for Saudi Arabia as it is for Pakistan and observed that Saudi Arabia will always be in support of any project that ushers in progress for brother Muslim states.
Members of the Shura Council H.E. Saleh Bin Abdur Rehman, H.E. Abdullah Hamoud Al Harbi, H.E. Abdul Rehman, Senator Dilawar Khan, Senator Nuzhat Sadiq and Executive Director PIPS Zafarullah Khan, Additional Secretary Planning, Development and Reforms Humair Karim, Dr. Ijaz Ghani and Liaqat Ali Shah from the ministry of Planning and Development, Chairman Gwadar Port Authority Naseer Khan Kashani from the ministry of maritime affairs and Secretary Maritime Affairs Rizwan Ahmed were present in the briefing.