Arab-Islamic Summit: Crown Prince Meets Pakistani Prime Minister
Saudi Arabia’s Crown Prince and Prime Minister Mohammed bin Salman welcomed Pakistan’s Prime Minister Anwaar ul Haq Kakar on the sidelines of Arab-Islamic Summit.
Against the backdrop of the unfolding crisis in Gaza, KSA decided to host Arab-Islamic Summit.
The summit brought together Arab leaders to discuss the situation.
Earlier KSA, Pakistan Relations
Prior to Arab-Islamic Summit, the Kingdom of Saudi Arabia and Pakistan have recently entered negotiations concerning a significant copper deal.
The talks focus on KSA’s interest in purchasing a part of Pakistan’s share in the Reko Diq project. This project is one of the world’s largest unexplored copper and gold deposits.
The Reko Diq copper project, located in Pakistan’s Balochistan province, is a $7 billion venture that hosts a large unexplored deposit of copper and gold.
Therefore, Saudi Arabia has expressed its intention to acquire a share of this valuable project.
The negotiations revolve around Saudi Arabia potentially buying a portion of the government’s stake in Reko Diq through an equity purchase.
This initiative aligns with Saudi Arabia’s broader strategy to diversify its investments and reduce its economic reliance on oil.
Deal’s Potential Outcomes
The successful conclusion of this deal could open doors for further Saudi investments in Pakistan, bolstering economic ties between the two nations.
Additionally, the development of the Reko Diq project could stimulate Pakistan’s mining sector, creating jobs, and contributing to the local economy.
The ongoing negotiations between Saudi Arabia and Pakistan over the Reko Diq copper project symbolize a potential economic milestone.
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