In the realm of international relations, alliances and partnerships are often tested and redefined by the changing dynamics of global politics and economics. Among the steadfast alliances, the bond shared between Pakistan and the Kingdom of Saudi Arabia (KSA) has endured the test of time, emerging as a beacon of solidarity and mutual support.
The high-level visit of General Syed Asim Munir, Chief of the Army Staff (COAS) to Saudi Arabia underscores the significance of the bonds that exist in this special relationship. The resounding reaffirmation of robust bilateral ties resonated prominently during the visit. Saudi Crown Prince and Prime Minister Mohammad Bin Salman reiterated his desire to strengthen these relations further, thus emphasizing the commitment of the Kingdom towards Pakistan.
High-level exchanges between the two countries have historically garnered prominence, and the COAS’s visit is no exception. However, the timing of this visit assumes added significance against the backdrop of economic challenges faced by Pakistan. In light of these challenges, the efforts undertaken by the Army Chief reflect a proactive approach towards bolstering the country’s financial stability.
The country’s military leadership enjoys commendable repute among the ranks and files of the Saudi leadership. It is noteworthy that the Army Chief is leveraging this goodwill to promote economic relations with friendly countries like Saudi Arabia and the UAE. In the face of multifaceted challenges, the imperative of collaboration between civil and military leadership cannot be overstated and it is a matter of great satisfaction that they are collectively endeavoring to set the economic direction right.
Saudi Arabia’s unwavering support for Pakistan has been evident throughout history, earning it the title of a reliable and trustworthy partner, especially in times of adversity. The KSA has extended substantial economic assistance to Pakistan, including deposits into the central bank, deferred payment facilities for oil imports, and direct financial aid. Such support has alleviated pressure from Pakistan’s foreign exchange reserves and contributed to its fiscal stability during critical economic periods.
The remarks made by the Saudi Crown Prince and Prime Minister during his meeting with the Army Chief, vowing to stand by Pakistan in the future underscores the depth of the bilateral relationship. This pledge of enduring support signifies a continuation of the longstanding friendship and cooperation between the two countries, rooted in shared values and strategic interests.
The Saudi Crown Prince and Prime Minister has repeatedly expressed his interest in investment in Pakistan. Instead of relying on financial aid, now is the time to elevate this relationship into a robust economic partnership for the mutual benefit of both countries. While the specifics of the discussions between the Army Chief and the Saudi leadership are yet to be unveiled, the establishment of the Special Investment Facilitation Council (SIFC), the brainchild of General Asim Munir, signifies a clear focus on attracting investment. We expect that needful will be done from the platform of SIFC to remove obstacles in the way of Saudi investment which holds the potential to be a game-changer for Pakistan’s economy, with ripple effects likely to attract further investment from Gulf countries.
The potential for collaboration between the two countries is immense and spans across various sectors. Opportunities abound for joint ventures, particularly in sectors such as infrastructure development, energy, agriculture, and information technology. Both countries can leverage their respective strengths and resources to drive economic growth.
In addition to investment, Pakistan should explore avenues to enhance trade with Saudi Arabia, leveraging the millions of visitors who annually flock to the kingdom for Hajj and pilgrimage. By establishing industries and producing goods tailored to the needs of pilgrims, we can tap into this market and seek special concessions for exports. This initiative will not only uplift small and medium enterprises but also generate significant employment opportunities.
