Saudi Arabia ‘to join CPEC’ for stonger trade ties with Pakistan

04:40 PM | 22 Sep, 2017
Saudi Arabia ‘to join CPEC’ for stonger trade ties with Pakistan

ISLAMABAD - The Kingdom of Saudi Arabia will soon join the China-Pakistan Economic Corridor (CPEC) and undertake investments at Gwadar Port, according to a Pakistani newspaper which interviewed Saudi Ambassador to Pakistan Nawaf Saeed Ahmed Al-Malkiy.

During an interview with Jang Group publications, the ambassador said Saudi Arabia and Pakistan are taking measures to strengthen "fraternal and trade ties".

“More than three million Pakistanis are playing their role in the progress and prosperity of Saudi Arabia,” Pakistani daily The News quoted Al-Malkiy as referring to Pakistani immigrants working in Saudi Arabia.

The envoy added that Saudi Arabia's investment in CPEC would allow the kingdom to play a similar role in Pakistan.

In August, during a visit to Jeddah, Prime Minister Shahid Khaqan Abbasi had shown appreciation for Saudi Crown Prince Muhammad bin Salman Al Saud's 'Vision 2030' plan - an ambitious project to diversify and modernise the Saudi economy. PM Abbasi had assured the Prince of continued cooperation and collaboration to the benefit of both Islamic countries.

Referring to the meeting in Jeddah, the ambassador said that new avenues will be explored for enhancing trade volumes between the two countries.