Saudi Arabia and Pakistan on Monday launched a comprehensive Economic Cooperation Framework to further strengthen their longstanding partnership and expand bilateral collaboration across key economic sectors.
In a joint statement issued after a meeting between Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud and Prime Minister Shehbaz Sharif in Riyadh, the two countries said the new framework builds on the nearly eight-decade-long historic relationship between the two brotherly nations. It also reflects their shared commitment to promoting mutual prosperity through closer trade and investment ties.
Under the framework, both countries would discuss and advance several strategic and high-impact projects in the fields of economy, trade, investment, and development. The initiative also aims to boost the role of the private sector and increase trade volumes between the two sides.
The priority sectors identified for cooperation include energy, industry, mining, information technology, tourism, agriculture, and food security. Both nations are also exploring joint economic ventures, including the signing of Memoranda of Understanding for an electricity interconnection project and for bilateral energy cooperation.
The joint statement emphasized that the new framework reflects a shared vision for a sustainable, forward-looking partnership, aligned with the aspirations of the leadership and peoples of both nations. It further noted that both leaders look forward to convening the next meeting of the Saudi-Pakistani Supreme Coordination Council to further consolidate and expand bilateral cooperation.
In a statement posted on X, Sharif said it was a “great pleasure and honor” to meet the Saudi crown prince. “We reaffirmed the enduring strength of the Pakistan–Saudi Arabia brotherly bonds and discussed ways to further expand this historic and time-tested partnership in trade, investment, and economic cooperation,” he said. He said he was grateful for the Saudi crown prince’s “personal commitment and resolute support in advancing our shared vision for deeper collaboration and prosperity for our two nations and peoples.”