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Business

Web Desk
November 6, 2018
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Saudi minister to visit Pakistan soon to sign MoU for establishing oil refinery

Business

Web Desk
Tue, Nov, 18

ISLAMABAD: Saudi Minister for Energy will soon visit Pakistan to sign a Memorandum of Understanding (MoU) on establishing an oil refinery in Pakistan, apart from finalizing other major projects in which Saudi Arabia has shown interest.

It was revealed here today by Nawaf Bin Said Al-Malkiy, Saudi Ambassador to Pakistan who paid a courtesy call on the President Dr. Arif Alvi.

Welcoming the ambassador, the president underlined the close, cordial and brotherly relations that exist between Saudi Arabia and Pakistan and highlighted different areas of economy where Saudi investors can invest.

The President, in particular, stressed that there is a need for exchange of more business delegations between the two countries. He said that the Ambassador could play a critical role in increasing the bilateral trade.

The president lauded the role of Pakistan’s Armed Forces for defeating terrorism in the country which has resulted in the establishment of durable peace in the country and revival of its economy.

The Saudi Ambassador briefed the President on two recent visits of the Prime Minister to Saudi Arabia and said that they have been very successful resulting in enhanced and multi-faceted economic cooperation between the two countries.

He appreciated the peace and stability prevalent in Pakistan and steps taken by the Government to invite foreign investors to invest in various sectors of economy.

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