‘Saudi Arabia keen to invest in energy, agriculture sectors’

[Dance]

WASHINGTON: Saudi Arabia is interested in investing in Pakistan’s energy and agriculture sectors, Finance Minister Abdul Hafeez Shaikh said after meeting his counterpart from the oil-rich country. Dr Shaikh and Saudi Finance Minister Dr Ibrahim Bin Abdulaziz Al Assaf, at a meeting on the occasion of the semi-annual IMF-World Bank gathering, discussed investment opportunities that Pakistan holds out for Saudi businesses. “We have a very close and longstanding relationship with Saudi Arabia and Ibrahim Al-Assaf is a longtime friend of Pakistan. We explored ways to further expand bilateral economic cooperation,” Dr Shaikh said. He also reaffirmed Islamabad’s policy to facilitate foreign investment in various sectors of the economy, including energy, as the country seeks to overcome electricity shortages and spur industrial output. Dr Shaikh also discussed options of economic cooperation with his counterparts from neighbouring Iran and Afghanistan. With the Iranian Finance Minister Dr Seyed Shamsuddin Hosseini, Dr Shaikh discussed how the two countries could strengthen cooperation in trade and transport areas, particularly toward materialising the proposed launch of a cargo train from Iran to Turkey via Tehran. Dr Shaikh also held talks with Afghan Finance Minister Omar Zakhilwal on expanding bilateral commerce. At the invitation of Zakhilwal, a delegation of Pakistani entrepreneurs will visit Afghanistan to look at investment opportunities in fields like mineral development and communication

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