Following a productive two-day visit, Saudi Foreign Minister Faisal bin Farhan, accompanied by a delegation of ministers, concluded his trip to Pakistan on Tuesday. This visit served as a follow-up to the meeting between the prime minister and the Saudi crown prince in Makkah at the end of Ramazan.
As anticipated, economic matters, particularly Saudi Arabia’s investment opportunities in Pakistan, took center stage during discussions. Prince Faisal engaged with the president and prime minister, participated in a session of the military-supported Special Investment Facilitation Council, and concluded his visit with a joint press conference alongside his Pakistani counterpart. The prince expressed optimism, noting that Pakistan would soon reap “significant benefits” on the economic front, characterizing his time in Pakistan as “productive”.
Over the past decade, Pakistan-Saudi relations, though longstanding and multifaceted, have encountered fluctuations. For instance, Riyadh expressed dissatisfaction with Pakistan’s decision to refrain from involvement in the Yemeni conflict. In hindsight, it appears parliament’s decision was prudent, given Saudi Arabia’s current efforts to extricate itself from the confrontation with the Houthis.
Additionally, Prime Minister Imran Khan’s initiative to convene an Islamic summit in Malaysia strained ties with Riyadh, with Saudi Arabia interpreting the move as an attempt to establish a ‘parallel’ OIC. Consequently, Mr. Khan canceled his trip to Kuala Lumpur.
Nevertheless, recent developments suggest a positive trajectory as Pakistan endeavors to attract significant Saudi investment, with the kingdom demonstrating a willingness to move past previous challenges. The anticipated visit of Crown Prince Mohammed bin Salman is expected to catalyze the Saudi investment program in Pakistan.
However, it is imperative for our government to recognize that such investments entail mutual benefits rather than handouts. Investors, including the Saudis, will seek favorable returns, necessitating political stability and transparency in economic policies.
Intriguingly, the upcoming visit of the Iranian president underscores Pakistan’s commitment to pursue the Iran-Pakistan gas pipeline project despite objections from the United States.
The government, under Shehbaz Sharif’s leadership, faces the delicate task of balancing relations with traditional Saudi allies and Iranian neighbors. Pakistan’s historical alignment with the Saudi camp notwithstanding, it is essential to cultivate robust economic ties with both Riyadh and Tehran, avoiding entanglement in bloc politics.
In essence, Pakistan’s focus should be on fostering mutually beneficial partnerships while navigating the complexities of regional dynamics with prudence and diplomacy.
