"We are family, not friends," says Saudi Arabia on economic ties with Pakistan

Saudi Minister for Investment Khalid bin Abdulaziz Al-Falih emphasised the unbreakable bond between Saudi Arabia and Pakistan, saying, "We are family, not friends."

Addressing the Pakistan-Saudi Business Forum in Islamabad, Al-Falih highlighted the limitless potential of their economic cooperation.

"The ties between our countries have no limits," he said. 

"We must strengthen Pakistan's economy. Pakistan has quickly stabilised its economy."

Earlier, the World Bank predicted that the country's economy would grow 2.8 percent in the current fiscal year.

On Wednesday night, Al-Falih with his 135-member delegation landed in Islamabad on a three-day visit, aiming to sign agreements worth $2 billion with Pakistan. 

He noted the shared history and values between the nations, saying, "Our economy and social values are linked together."

"We are family, not friends [...] Pakistan, Saudi Arabia [relations] do not need any [formal] agreement [to prove themselves].

"As many as 2.5 million Pakistanis are working in Saudi Arabia."

During meetings with President Asif Ali Zardari and Chief of Army Staff General Asim Munir, Al-Falih discussed expanding Pak-Saudi friendship and establishing a single window for Saudi investments. 

The army chief assured him of streamlining bureaucracy, turning "red tape into red carpet" for Saudi investors.

Twenty-seven memoranda of understanding (MoUs) are expected to be signed between Riyadh and Islamabad during Al-Falih's three-day visit.