Pakistan wants to develop an economic and cultural corridor with Saudi Arabia

MoU in oil refinery to be Saudi Arabia’s largest investment in Pakistan’s history

Okaz/Saudi Gazette

Islamabad — Multiple contracts are expected to be signed between Pakistan and Saudi Arabia during the visit of Crown Prince Muhammad Bin Salman, deputy premier and minister of defense, Pakistan’s Prime Minister Imran Khan told Okaz/Saudi Gazette in an exclusive interview.

The main highlight of the visit will be the signing of an MoU in respect of the oil refinery, which is Saudi Arabia’s largest investment in Pakistan’s history, he said.

“I am confident that the economic relations of the two countries will be further expanded by identifying new avenues of investment and as well as joint ventures between the two countries,” the Pakistani prime minister said.

“The visit of the Crown Prince is a manifestation of the strength of this relationship. This visit will go a long way in laying a foundation of strategic and economic relations that has been the hallmark of our two brotherly countries,” he said, adding, “The generous deposit of $3 billion and supply of oil on deferred payment is reflective of the desire of the Kingdom to see a strong, vibrant and prosperous Pakistan.”

Khan highlighted the possibilities of Saudi investment in sectors like energy, petroleum, and agriculture and infrastructure development.

“Pakistan looks forward to enhanced cooperation in the banking sector, education sector, science and technology, trade and investment, construction sector and cultural cooperation especially, in the field of films and cinemas and tourism,” he said.

He said that if the Kingdom becomes a member of the China-Pakistan Economic Corridor (CPEC), it will bolster CPEC as an engine of growth for the region.

“The Saudi oil refinery planned in Gwadar will help boost local production and the local energy market. The exchange of skills and transfer of technology and best practices will enhance competition and increase the productivity of our local refineries. It will also complement the projects under the CPEC.”

In the diplomatic sphere, Khan said, the two nations can join hands to effectively mobilize the international community for the amicable resolution of festering disputes.

The Pakistani premier reiterated that his country will not allow anyone to attack Saudi Arabia.

“Pakistan will always stand with Saudi Arabia whenever it faces a threat in any form to its security and sovereignty. We want Saudi Arabia to be as safe and secure as we want Pakistan to be.”