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China President Jinping to visit Saudi Arabia, Iran in diplomacy push

04:22 PM | 16 Jan, 2016
China President Jinping to visit Saudi Arabia, Iran in diplomacy push
BEIJING (Web Desk) - Chinese President Xi Jinping will visit Saudi Arabia, Egypt and Iran next week, Beijing's foreign ministry said, as the world's second-largest economy seeks greater diplomatic heft in a crucial and tense region.

President Xi would visit the three Middle Eastern countries over five days from Tuesday, according to his spokesman.

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The trip, Xi's first to the region as president, comes amid mounting tensions over the war in Syria and after protesters ransacked and burned the Saudi Embassy in Tehran over the execution of a prominent Shia cleric.

Pakistani Prime Minister Nawaz Sharif and Army Chief General Raheel Sharif are also going to visit Saudi Arabia and Iran next week to defuse the tension between both countries arised in recent weeks.

PM Nawaz has been scheduled to meet King Salman and other high Saudi officials on Monday. Chief of Army Staff (COAS) General Raheel Sharif and Adviser to PM Sartaj Aziz will accompany him.

The Pakistani leadership will also meet Iran President Hassan Rouhani in Tehran on Tuesday after completing Saudi Arabia visit.

As biggest importer of Middle Eastern oil, China depends on gulf countries for its oil supplies but has long taken a back seat in the region's diplomatic and other disputes, only recently beginning to expand its role, especially in the Syrian crisis.

China's economy has grown, its dependence on imported oil and natural gas has increased, making the Middle East a crucial part of Beijing's strategy as it seeks to expand its influence through Xi's signature foreign policy initiative, known as “One Belt One Road”.

The massive investment scheme aims to increase China's footprint from central Asia to Europe through the use of loans to build infrastructure and transport networks.

This week a Chinese diplomat urged “calm and restraint” between Saudi Arabia and Iran, but Xi's trip was most probably organised before the discord erupted between Riyadh and Tehran, Zhu said.

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China has consistently urged a “political solution” to the Syrian crisis, despite being seen as having long protected President Bashar al-Assad, and four times vetoed UN Security Council measures aimed at addressing the conflict.

Last year, China helped broker a landmark nuclear deal with Iran, which has begun to emerge following years of international isolation.

Days after the signing of the historic framework agreement, Iran was approved as a founding member of the Beijing-backed Asian Infrastructure Investment Bank, which is expected to provide funding for One Belt One Road.

On Wednesday, China published its first official Arab Policy Paper, claiming a “broad consensus on safeguarding state sovereignty and territorial integrity, defending national dignity, seeking political resolution to hotspot issues, and promoting peace and stability in the Middle East”.

The writer is a member of the staff.

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Pakistani rupee exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 18 May 2024 Forex Rates

Pakistani currency rates against US Dollar and other currencies on May 18, 2024 (Saturday) in open market.

USD to PKR rate today

US dollar was being quoted at 277.4 for buying and 280.35 for selling.

Euro stands at 297 for buying and 299.5 for selling while British Pound rate is 348.5 for buying, and 352 for selling.

UAE Dirham AED was at 75.25 and Saudi Riyal came down to 73.50.

Today’s currency exchange rates in Pakistan - 18 May 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.4 280.35
Euro EUR 297 299.5
UK Pound Sterling GBP 348.5 352
U.A.E Dirham AED 75.25 76
Saudi Riyal SAR 73.5 74.25
Australian Dollar AUD 181 183
Bahrain Dinar BHD 747.77 755.77
Canadian Dollar CAD 203 205
China Yuan CNY 38.49 38.89
Danish Krone DKK 40.25 40.65
Hong Kong Dollar HKD 35.96 36.31
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 913.28 922.28
Malaysian Ringgit MYR 58.69 59.29
New Zealand Dollar NZD 169.45 171.45
Norwegians Krone NOK 25.67 25.97
Omani Riyal OMR 730.59 738.59
Qatari Riyal QAR 76.41 77.11
Singapore Dollar SGD 203 205
Swedish Korona SEK 25.67 25.97
Swiss Franc CHF 309.01 311.51
Thai Bhat THB 7.57 7.72

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