The talks were also attended by Prince Mishaal, chairman of the Allegiance Commission, and Crown Prince Sultan. Zardari thanked the king for his generous hospitality. The king later hosted a banquet in honor of the president and his delegation.
Zardari was met on arrival at the Riyadh Airbase by Riyadh Gov. Prince Salman, Pakistan Ambassador to Saudi Arabia Shahid Karimullah and Saudi Ambassador to Pakistan Ali Awadh Al-Aseeri.
Zardari is expected to perform Umrah and visit the Prophet’s Mosque in Madinah before leaving today.
Karimullah told Arab News that Zardari would be seeking Saudi oil shipments against deferred payments of up to two years to reduce pressure on the country’s trade imbalance, and the Kingdom’s support for the forthcoming Friends of Pakistan (FOP) meeting, which is to be held on Nov. 17.
Pakistan needs the forum to inject up to $ 5 billion in cash to help it avoid defaulting on sovereign debt due for repayment next year. FOP nations include the United States, the United Kingdom, France, Saudi Arabia, China and the United Arab Emirates.
Pakistan needs the forum to inject up to $ 5 billion in cash to help it avoid defaulting on sovereign debt due for repayment next year. FOP nations include the United States, the United Kingdom, France, Saudi Arabia, China and the United Arab Emirates.
The Kingdom did not attend the inaugural meeting of the forum held in New York. Commenting on this, Al-Aseeri said: “To my knowledge and understanding bilateral relationship is always more fruitful than going to any forum.” According to him, the Saudi-Pakistani relationship went beyond any forum of this sort.
The Saudi ambassador linked progress on these issues to the implementation of agreements signed during King Abdullah’s visit to Islamabad.
“I can reassure you that our economic and trade links would be better, stronger and more fruitful if the agreements signed during King Abdullah’s visit to Islamabad were to be implemented in letter and spirit.”
The Saudi leadership is already considering a Pakistani request for deferred oil payments that were made by Pakistani Prime Minister Yousuf Raza Gilani during his visit in July.
Zardari discussed bilateral trade, Saudi investment in Pakistan and security issues confronting the Muslim world. The current trade volume between the two countries stands at $ 5.7 billion. The visiting president wants to attract Saudi investments for the development of agriculture and food cultivation in Pakistan.
During a recent visit, Pakistani Finance Minister Syed Naveed Qamar offered land to the Kingdom to cultivate rice.
Two major projects currently in the pipeline in Pakistan include the Al-Tuwairqi Steel Mill in Karachi with an investment of $ 100 million and the construction of Centaurus in the heart of the capital by Pak-Gulf Construction at an estimated investment of around $ 450 million.
There are 351 Pakistani businessmen registered with the Saudi Arabian General Investment Authority (SAGIA) for various projects in the Kingdom. Pakistani investments in the Kingdom are estimated at SR1.2 billion in 165 industrial and 186 nonindustrial projects licensed by SAGIA.
The Pakistani president later left for Jeddah and was seen off at Riyadh airport by Finance Minister Ibrahim Al-Assaf, State Minister for Shoura Affairs Saud Al-Mutahami and Ambassador Al-Aseeri.
