Pakistan, Saudi Arabia unveil new economic cooperation push

Pakistan and Saudi Arabia agreed to launch an “Economic Cooperation Framework” to deepen trade, investment and development ties, according to a joint statement issued after Prime Minister Shehbaz Sharif met Crown Prince Mohammed bin Salman in Riyadh on the sidelines of the FII9 conference.

Under the framework, both countries will explore a slate of strategic, high-impact projects to expand cooperation between the public and private sectors. Priority areas include energy, industry, mining, information technology, tourism, agriculture and food security, alongside plans to sign memoranda of understanding on an electricity interconnection project and broader energy cooperation.

The statement said the model aims to strengthen a sustainable, mutually beneficial partnership that aligns with the aspirations of both leaderships and peoples. The two sides also looked forward to convening the Saudi-Pakistani Supreme Coordination Council to steer implementation.

Sharing details of his engagements, PM Shehbaz posted that he and the crown prince reaffirmed the “enduring strength” of bilateral ties and discussed ways to expand collaboration in trade, investment and economic cooperation. He is leading a high-level delegation to FII9 including the deputy prime minister/foreign minister and the finance and information ministers.

The report added that in recent months Islamabad and Riyadh have broadened cooperation across multiple domains, following agreements signed over the past year, including a landmark defence pact underscoring mutual support. The premier will continue meetings with international investors and leaders at the forum to advance the new economic track.