Pak PM in Saudi: Why is Shehbaz Sharif's meeting with the crown prince significant?

Pakistani Prime Minister Shehbaz Sharif has departed from Islamabad for a bilateral meeting with country’s long-term ally, Saudi Arabia to meet the Kingdom’s Crown Prince Mohammed bin Salman, Pak foreign ministry said.

The two-day trip to Riyadh starting Saturday will be Sharif’s maiden foreign visit since he was elected to power for the second time through a coalition government in February.

The two leaders are expected to discuss areas of mutual interest and will exchange views on regional and global development, Pakistan’s foreign ministry said in a post on X.

Here are 5 reasons why Pak PM’s visit to Saudi Arabia is all eyes

1. Pakistan has prepared a comprehensive plan to bag a whopping investment of over $1 billion from Saudi Arabia in the Reko Diq Copper-Gold Project located in Balochistan’s Chaghi district, as per a report in The Express Tribune.

Reko mine is considered one of the world’s largest underdeveloped copper-gold areas, and an Saudi investment could provide a financial support to Pakistan’s struggling economy.

2. Since averting a sovereign debt, through a $3-billion IMF bailout, Pakistan has been in dire need of financial support. The cash-strapped nation, is eyeing Saudi investments in industries ranging from agriculture to mines, minerals, and aviation.

Last year, Pakistan confirmed Saudi Arabia and the United Arab Emirates (UAE) investments worth $25 billion each for five years into projects concerning energy, IT, minerals, defense, and agriculture sectors.

3. Pakistan and Saudi Arabia also share strong cultural ties. Sharif is expected to perform Umrah (holy pilgrimage) and offer prayers at Masjid-i-Nabwi during his visit, the country’s foreign ministry announced.

“Pakistan and KSA have longstanding fraternal relations rooted in religious and cultural affinity. The people of Pakistan have the deepest respect and regard for the Custodian of the Two Holy Mosques, His Majesty King Salman bin Abdulaziz Al-Saud,” the foreign office said.

4. Amid regional tensions with neighbouring India and Afghanistan, Pakistan expected strong defence ties with the gulf country. Earlier this year, Pakistan’s Army met with Saudi delegation and announced plans to boost Middle Eastern country’s investments in defence technologies and increase cooperation.

5. Saudi Arabia and Pakistan also expected to exchange views on “regional and global developments”, Pak foreign ministry said.

Last year, during the Organisation of Islamic (OIC) meeting Saudi Arabia’s minister of foreign affairs, Prince Faisal bin Farhan, said the Jammu and Kashmir conflict is a “pressing challenge” to the security and stability of the region and that the Kingdom is “unremitting in its efforts to mediate” between the parties involved in the conflict.