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Pakistan and Saudi Arabia to Discuss $3 Billion ‘Increase’ in Kingdom Deposit: Joint Statement – Pakistan

Pakistan and Saudi Arabia will discuss the possibility of “increase” the $3 billion kingdom deposit in central bank by expanding term or through other options”, the joint statement said. on Sunday.

Saudi Arabia invested $3 billion last year in National Bank of Pakistan in help support their foreign exchange reserves. With a yawn current account deficit and foreign exchange reserves fell to $10.8 billion, the country in horrible need of external finance.

Pakistan also greeted the Saudi decision extend the export financing agreement of petroleum products and petroleum products, Saudi Arabia news This is reported by the SPA agency.

The statement came after Prime Minister Shehbaz Sharif’s visit to Saudi Arabia, where he met with Crown Prince Mohammed bin Salman.

Pakistan’s statement news APP agency, the Kingdom confirmed its permanent support to Pakistan and economy “including discussion of replenishment of the deposit of 3 billion dollars with Central bank through term expansion or otherwise, and the study options to further increase funding of oil products and supporting economic structural reforms for benefit of Pakistan and his people”.

“Pakistan appreciates the continued strong support of Kingdom of Saudi Arabia to Pakistan,” the statement said.

joint statement also said that Pakistan and Saudi Arabia reaffirmed their position on strengthening security and stability, renouncing extremism, terrorism and support unity and independence of in countries of in region and their territorial integrity.

Two sides also agreed with give prioritize political decisions that bring prosperity and progress to region and this people.

During the Prime Minister’s visit, the parties exchanged views on questions of mutual concern at the regional and international levels, and agreed on the importance of continuing to coordinate our positions in a way serves their interests

The parties agreed to continue the exchange support and coordination in international organizations and forums and stressed the importance of all countriescommitment to the Charter of the United Nations and the principles of international law, adherence to principles of good goodwill, respect for unity and sovereignty of states, non-intervention in internal affairs and striving for resolve disputes peacefully.

Kingdom of Saudi Arabia welcomed the statements of Pakistan mentioned its desire to find a solution to all disputes with India, including the Jammu and Kashmir dispute.

Read more: Prime Minister Shahbaz writes a letter to Modi, says peaceful paki-indian ties imperative for progress of region

Both sides stressed the importance of dialogue between Pakistan and India in order resolve problems between the two countries, especially the Jammu and Kashmir dispute to ensure peace and stability in in region.

During official meeting between prime minister and the Crown Prince of Saudi Arabia, they reviewed the historical relationship between the two countries and close cooperation in various areas, and also discussed ways to strengthen relations in in all areas,” the statement said.

In a bilateral context, both sides stressed the importance of strengthening work through the Saudi Pakistan Supreme Coordinating Council, diversifying trade exchange between two brothers countries and strengthening communication between private sector in two countries in order of discussion trade and investment opportunities and turn them into real partnerships.

Two sides also agreed to deepen investment cooperation between the two countries to stimulate partnerships and create opportunities for investment integration between private sector of two countries.

They are also agreed with join efforts to develop investment environment in two countries and support number of investment sectors of common interest.

Meanwhile, Prime Minister Shehbaz said the joint statement in a new era of close cooperation and interaction on bilateral, regional and global problems between our two fraternal countries”.

“Pakistan deeply values ​​the continuation of the kingdom support to Pakistan,” he said.


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Derrick Santistevan
Derrick is the Researcher at World Weekly News. He tries to find the latest things going around in our world and share it with our readers.

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