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Pak-Saudi Business Conference discusses joint ventures

By News Desk
February 19, 2019

ISLAMABAD: The Adviser to Prime Minister on Commerce Abdul Razak Dawood says a new chapter has begun in the bilateral relations of Pakistan and Saudi Arabia.

Addressing the Pak-Saudi Business Conference in Islamabad on Monday, he said Saudi investment in Pakistan is highly significant for positive trajectory of Pakistan's growth and economy. He said Saudi Arabia is a partner of Pakistan in its journey of prosperity. Abdul Razak Dawood said investment in mining and mineral development from Saudi investors will be highly appreciated.

“For the last few years, we have been moving in the direction of improving power shortages and infrastructure. Chinese government has helped us in this work,” he said, adding that our relationship with Saudi Arabia is moving in a different direction and at a different level. The adviser said the Saudi announcement of huge investment in various sectors of Pakistan will improve our economy. He said Saudi investors and business will be provided all out facilities in their business ventures. The Saudi Minister for Commerce Majid Al-Qassabi said Pak-Saudi relations are moving in a new and positive direction. He said Saudi Crown Prince Mohammed bin Salman has expressed the desire to turn the bilateral relations with Pakistan into a strategic partnership. He said the crown prince has also asked to give assurances that Pakistan and Saudi Arabia are partners in development. The Saudi commerce minister said bilateral trade volume stands at $3.7 billion with an increase in the last 15 years; however, this still needs improvement. Majid Al-Qassabi said we need to market things rightly and attract investors from both sides. “For this we will frankly discuss the opportunities and challenges to reach at the fruitful outcomes,” he said.

Meanwhile, Speaker National Assembly Asad Qaiser along with a three member parliamentary delegation called on Mohammed bin Salman. The delegation discussed matters of mutual interest with the crown prince and his delegation. The members of delegation included Deputy Speaker National Assembly Qasim Khan Suri, Chief Whip Amir Dogar and Minister of State for Parliamentary Affairs Ali Muhammad Khan. The PML-N leaders Raja Zafarul Haq and Senator Mushahidullah Khan were also included in the delegation. A delegation led by Chairman Senate Sadiq Sanjrani also called on the crown prince. They discussed promoting parliamentary contacts.

Meanwhile, the Saudi Minister of State for Foreign Affairs Adel bin Ahmed Al-Jubeir accused Iran of sponsoring terrorism for decades, saying it was "strange the foreign minister of the world's chief sponsor of terrorism to accuse others of engaging in terrorist activities". The minister, who was part of Saudi Crown Prince Mohammed bin Salman's visiting delegation, was addressing a joint press conference with Foreign Minister Shah Mehmood Qureshi. When asked about Tehran's recent allegations that held Pakistan responsible for an attack that killed more than 20 members of Iran's Revolutionary Guards, Qureshi said he had assured Iranian Foreign Minister Javad Zarif that Pakistan would "never condone (any terrorist) activity". "We have always condemned such activity. Iran is our neighbour and we would never cause any problem for them," Qureshi said. "We respect their sovereignty and territorial integrity and I'm sure they respect ours," he added. Qureshi said Pakistan would be helpful if Iran comes forward with any evidence. He recalled that Pakistan had cooperated with Iran in the past to overcome these difficulties.

The Saudi minister, meanwhile, questioned how Iran — which he called "the world's chief sponsor of terrorism" — could accuse others of engaging in terrorist activities. He accused Iran of "sponsoring" terrorism "since the Iranian revolution of 1979," adding that Iran had "established terrorist groups such as Hezbollah in Lebanon and Houthis in Yemen. He said "Iran had been implicated" in terrorist attacks that took place in other countries, including Saudi Arabia and the United States. Al-Jubeir went on to accuse Iran of providing arms to terrorist groups and interfering in other countries' affairs as well as "harbouring" terrorists of al-Qaeda, "including Osama bin Laden's son". "Saudi Arabia has been a victim of terrorism," he asserted. "We have been vigilant and unmerciful in going after the terrorists and those who support them and condone them. We wish to eliminate the scourge of terrorism from the face of this planet," he said, adding the Iranian regime was "deflecting blame because it was facing pressure from the people".

Speaking on the regional situation, the Saudi minister said that peace in Afghanistan would be of "benefit" to the entire region, including Saudi Arabia. He said the Saudi Arabian regime has been working with Pakistan, Afghanistan, the United States and the United Arab Emirates to facilitate an agreement between the Taliban and Afghan government in order to move Afghanistan towards peace. He also addressed the frosty relations between Pakistan and India and said that Saudi Arabia's "objective" was to "try to deescalate tensions" between the neighbouring countries. He hoped that both countries would be able to resolve the dispute between them peacefully.

Stressing the importance of Pakistan-Saudi ties, Al-Jubeir said the Kingdom has a "strategic interest" in Pakistan. He said that several Memoranda of Understanding (MoUs) and agreements were signed between Saudi Arabia and Pakistan, three of which involved investment in excess of $20 million, including one regarding an oil refinery in Gwadar Port. He said the agreements and MoUs are just the beginning, making clear that "this is not charity — this is an investment". "There is benefit for both sides. If we didn't believe in Pakistan, we wouldn't have been looking at these investments," he added. The Saudi minister hoped both the countries would overcome the challenges they have been facing. He thanked the Pakistani government for its hospitality and also its friendship. Lauding the Kingdom's move to reduce visa fee for Pakistanis, Foreign Minister Qureshi hoped that Saudi Arabia would respond similarly to Prime Minister Imran Khan's requests to make the immigration process for Haj pilgrims easier.