New Chapter in Longstanding Partnership
Pakistan and Saudi Arabia have agreed to establish a new framework for economic cooperation, marking a significant step toward deepening bilateral relations.
The understanding was reached during a meeting in Riyadh between Prime Minister Shehbaz Sharif’s visit to Riyadh for the Global Investment Summit and his discussions with Saudi Crown Prince and Prime Minister Mohammed bin Salman. Officials described the move as a reflection of the two nations’ eight-decade-long partnership rooted in shared faith, history, and mutual respect.
Expanding Trade and Investment Opportunities
According to a joint statement, the framework aims to enhance trade, investment, and development cooperation to strengthen mutual economic interests.
The two sides identified several priority sectors, including energy, industry, mining, information technology, tourism, agriculture, and food security. Both countries agreed to collaborate on strategic projects in these areas, ensuring greater private-sector involvement and sustainable growth.
Energy cooperation will remain a cornerstone of this partnership. Officials confirmed that memoranda of understanding (MoUs) in energy and power transmission projects are already under discussion, with plans to advance them in the coming months.
Focus on Sustainable Economic Partnership
The new framework underscores a shared vision for long-term economic sustainability. It also seeks to empower private enterprises from both countries, encouraging joint ventures and technology-driven initiatives.
Analysts view this as part of Saudi Arabia’s Vision 2030, which aims to diversify its economy beyond oil, and Pakistan’s efforts to attract foreign investment to stabilize its financial outlook.
Strengthening Institutional Coordination
The two leaders expressed anticipation for the upcoming session of the Saudi-Pakistan Supreme Coordination Council, which serves as a platform to monitor progress and advance bilateral initiatives.
Diplomatic observers see this renewed economic collaboration as a strategic step toward deepening regional integration and expanding Pakistan’s role in Gulf-led investment corridors.
