Need urged for exploring opportunities created after Iran-Saudi reconciliation.

ISLAMABAD -- Chairman United Business Group in Federation of Pakistan Chamber of Commerce and Industry Shahzad Ali Malik Thursday said that Iran-Saudi Arabia reconciliation is an opportunity for Pakistan and urged the need to further cement trade and investment relations with both of the countries to attain sustainable economic development.

In a press statement, he said this recent development is seen as a positive step toward resolving long-standing tensions and conflicts in the Middle East. He said the normalization of ties between Iran and Saudi Arabia presents opportunities for Pakistan and urged the need for maintaining balanced diplomatic ties with both states, which is a much-cherished moment.

He was of the view that closer ties with Iran would be essential for improving regional security, while close ties between China, Iran, and Pakistan would be crucial for the success of the China-Pakistan Economic Corridor and the larger Belt and Road Initiative (BRI).

Pakistan has a history of playing a...