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Last Updated : Feb 06, 2019 01:29 PM IST | Source:

Saudi Crown Prince to visit India soon but after Pakistan

Reports suggest that deals worth about $14 billion could be in the fray during his visit to Pakistan.

Moneycontrol News @moneycontrolcom

Moneycontrol  News

Saudi Crown Prince Mohammed bin Salman is all set to make his maiden visit to India in late February this year. But before he sets foot in India he has multiple stopovers including Pakistan.

As per a report by Hindustan Times, the Prince would reach Pakistan on February 16 and will proceed to Malaysia before landing in New Delhi in the last week of February.

The Prince has many meetings across the South Asian region and talks related to investments and oil export deals are primarily on his agenda.

Reports suggest that deals worth about $14 billion could be in the fray during his visit to Pakistan.

Since assuming office, Pakistan Prime Minister Imran Khan had sought financial assistance from a host of countries, including Saudi Arabia, to bail his country out of the current fiscal crisis. In October last year, Saudi Arabia agreed to provide a $6 billion package to Pakistan to support its economy.

As per sources quoted in the report, the Prince decided to include a stopover in Malaysia after his visit to Islamabad to highlight that Saudi is not hyphenating its ties with India.

India has sought Saudi investments in sectors ranging from energy to manufacturing. The Saudi kingdom, on the other hand, is keen to attract Indian investments in its Qiddiya entertainment city, an amusement hub with theme parks and race tracks.

Saudi Arabia is among the top suppliers of crude oil to India, and has been eyeing a larger share of the country’s oil market since the US imposed sanctions on Iran and Venezuela. Saudi Arabia is also India’s fourth largest trading partner.

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First Published on Feb 6, 2019 01:10 pm
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