KARACHI: Pakistani analysts say the upcoming visit of Saudi Crown Prince Mohammad bin Salman to Pakistan must be utilized to open new avenues of cooperation between the staunch allies who have enjoyed strong strategic and bilateral ties for decades but have engaged in minimal trade.
The crown prince is expected in Pakistan in the third week of February with a “record investment package,” including a $10 billion refinery and oil complex in the deepwater Gwadar Port on the Arabian Sea.
Former Pakistani diplomat Javed Hafeez said Pakistan and Saudi Arabia’s relationship had so far mostly revolved around defense and strategic cooperation but there was a need to “diversify” it and focus on trade and economic cooperation.
“Trade between both the Islamic countries is minimal and this needs to be enhanced to the fullest,” Hafeez told Arab News, adding that there was a huge potential for Pakistan to increase its exports of food items, garments, medicines, and sports goods to the Kingdom.
“The crown prince’s visit is good news for Pakistan as this shows Saudi Arabia’s close association and love for our people,” Hafeez said. The crown prince has emerged as “one of the most influential figures in the Muslim world” and his visit to Pakistan will “definitely open new avenues of cooperation between both countries,” he added.
Last year, Saudi Arabia agreed to give Pakistan $3 billion in foreign currency support for a year and a further loan worth up to $3 billion in deferred payments for oil imports to help stave off a current account crisis. Pakistan has so far received $3 billion in cash.
Political science professor Rasul Bukhsh Rais said the visit of the crown prince was a “welcome move at a time when Pakistan is struggling to improve its image as a peaceful country in the international community.”
He said Pakistan should include Saudi Arabia as a third partner in the $60 billion China Pakistan Economic Corridor of power stations, major highways, new and upgraded railways and higher capacity ports aimed at turning Pakistan into a major overland route linking western China to the world.
“Saudi Arabia can easily connect to China and central Asian states by using Pakistan’s strategic location in the region,” Rais said. “Wider economic cooperation between these countries will help the whole region prosper.”
International affairs analyst Zafar Nawaz Jaspal said the crown prince’s visit would help expand bilateral relations between Pakistan and the Kingdom and accelerate much-needed trade and economic cooperation.
“The crown prince’s visit as expected will help materialize numerous investment projects in Pakistan,” Jaspal said. “In today’s world, mutual economic association and bilateral trade between the countries are considered to be a yardstick to determine the depth of their relationship.”