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PM Shehbaz leaves today for a two-day trip to Riyadh

Web DeskOctober 24, 202250 comments

Web Desk (LTN NEWS): Today (Monday), Prime Minister Shehbaz Sharif will leave for a two-day trip to Saudi Arabia. He will go to the Davos in the Desert’s Saudi Future Investment Initiative Summit and meet with Saudi Crown Prince Mohammed bin Salman.

Before he left, the Foreign Office (FO) released a statement saying that PM Shehbaz’s official trip to the Saudi capital Riyadh was planned after an invitation from Prince Salman. The latter became the kingdom’s prime minister last month.

During his time in Riyadh, PM Shehbaz would meet with the Saudi crown prince to talk about their long-standing friendship and strengthen their cooperation in many areas, especially the economy, according to a Foreign Office (FO) statement.

It also said that the prime minister would attend the Saudi Future Investment Initiative Summit.

The Future Investment Initiative Institute, which is not officially part of the Saudi government but is run by Prince Salman, is in charge of the conference.

Read Imran Khan and PM Shehbaz show concern about electronic records

An official told Dawn earlier that PM Shehbaz would be one of the main speakers at the conference and would use the opportunity to talk about investment opportunities in Pakistan.

The theme for this year’s conference is “Investing in Humanity: Making a New Global Order Possible.” From Tuesday to Thursday, 6,000 delegates from all over the world, such as top executives from multinational companies, policymakers, investors, entrepreneurs, and young leaders, participate in the event.

The killing of journalist Jamal Khashoggi in 2018 overshadowed the second investment conference, which is happening this year in the shadow of a fight between the US and Saudi Arabia over Opec’s oil production cut.

Opec+ made up of the Organization of Petroleum Exporting Countries (Opec) and its allies, like Russia, agreed earlier this month at a meeting in Vienna to cut production by two million barrels per day starting in November. This made the US angry.

After the news came out, US President Joe Biden said that Saudi Arabia would face “consequences” for supporting the cuts with Russia.

A report from Dawn says that organizers of this year’s event did not invite US officials because of the rift.

Read Pakistan supports Saudi Arabia’s choice and policy

The people at the conference say they do not want politics to be the main topic. Instead, they want the business to be the focus. The report said that nearly 400 of the top business leaders in the US have said they will be there.

Pakistan has taken the kingdom’s side in the oil production cut dispute.

Tags:pakistanPMPM Shehbazprime minister

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