Prime Minister Shehbaz Sharif vowed on Thursday to implement the agreements with Saudi Arabia as both countries have signed 27 Memorandums of Understanding (MoUs) amounting to $2.2 billion.

Addressing an event in Islamabad, PM Shehbaz said: “The agreements of cooperation with Saudi Arabia is the new development. We welcome the Saudi investment of over $2 billion.”

The premier acknowledged the visit of the delegation spearheaded by the Saudi investment minister, saying, “The Saudi crown prince has kept keen interest in the development of Pakistan. The partnership between the two countries will further bolster the ties between the two countries.”

“We are ensuring all the steps to ensure the implementation of the agreements,” he said.

PM Shehbaz commended Saudi Investment Minister Khalid bin Abdulaziz Al-Falih for steering the Kingdom’s economy towards the prosperity.

“The economic indicators are getting better with the measures taken by the government. The inflation has reached its lowest level in the last 44 months,” he said.

He added: “We are looking to transform the Pak-Saudi relations to an economic partnership.”

PM Shehbaz had reaffirmed the country’s strong support for Saudi Arabia’s Vision 2030 and emphasised the importance of further strengthening defense and security ties between the two nations.

It is pertinent to note that these agreements span various industries, which will pave the way for strengthening economic ties between the two countries.