Pakistan invites Saudi Arabia to be third partner in Trade Corridor
Saudi Arabia will be the third “strategic partner” of the $50 billion China-Pakistan Economic Corridor (CPEC), a senior Pakistani minister announced on Thursday, soon after Prime Minister Imran Khan returned from his first foreign trip to the cash-rich kingdom.
The China-Pakistan Economic Corridor (CPEC) is the flagship project of the multi-billion dollar Belt and Road Initiative (BRI), a pet project of Chinese President Xi Jinping aimed at enhancing Beijing’s influence around the world through China-funded infrastructure projects. Addressing a press conference on Imran Khan’s two-day visit to Saudi Arabia and United Arab Emirates (UAE), Minister of Information Fawad Chaudhry said that Pakistan’s main interest lies in cooperation with Saudi Arabia on matters of trade and security.
Pakistan has invited Riyadh to join the CPEC as the third “strategic partner”, The News quoted him as saying. Saudi Finance and Energy Ministers will visit Pakistan in the first week of October, Chaudhry said. He said the projects that Saudi Arabia would be investing in the CPEC will be smoothed out during the Saudi delegation’s visit.