Zardari to embark on official visit to Saudi Arabia

Islamabad, Nov 2 (PTI) President Asif Ali Zardari will
embark on an official visit to Pakistan's close ally Saudi
Arabia on Tuesday to seek the kingdom's support in helping his
country overcome its crippling financial crisis.

Zardari is expected to seek oil supplies against
deferred payments from Saudi Arabia to help Pakistan deal with
its balance of payments problem. Despite several requests from
Pakistan, the kingdom is yet to take a decision on this issue.

The two-day visit will be Zardari's first trip to Saudi
Arabia since he assumed the post of President in September. He
earlier accompanied Prime Minster Yousaf Raza Gilani to that
country in June.

Zardari and Saudi King Abdullah bin Abdul Aziz will also
exchange views on bilateral, regional and international
Issues. In his talks with the Saudi leadership, Zardari will
discuss ways to attract more investments to Pakistan in areas
like energy, infrastructure development, agriculture and
industry.

A Foreign Office spokesman said the two leaders will
also exchange views on challenges facing Muslims around the
world, the inter-faith initiative launched by King Abdullah
and efforts to curb terrorism and extremism.

Zardari will also seek Saudi Arabia's assistance for the
newly formed Friends of Pakistan group that includes the U.S.,
Britain, China, France, the U.A.E., U.N. and the European
Union. The forum is scheduled to meet in Abu Dhabi on November
17.

Pakistan is hoping to put off seeking aid from the
International Monetary Fund, which will be accompanied by
strict conditions, by getting ad from the Friends of Pakistan
group.

A Saudi-Pakistan investment conference in Riyadh
Saturday sought the setting up of a mutual investment fund
and launch of a cargo airline to facilitate business
communities in both countries.

Saudi companies have made significant investments in
Pakistan while over a million Pakistanis live and work in
Saudi Arabia.

Saudi Arabia is among the top 20 major export
destinations for goods from Pakistan and annual bilateral
trade is worth about 5.7 billion dollars. Pakistan's major
import from Saudi Arabia is petroleum.