Islamabad/Riyadh: In a historic stride toward deepening bilateral ties, Prime Minister Muhammad Shehbaz Sharif met with Saudi Crown Prince Mohammed bin Salman Al Saud in Riyadh on October 27, where both leaders agreed to launch a comprehensive economic cooperation framework between Pakistan and Saudi Arabia. The framework aims to enhance trade, investment, and strategic development while promoting private sector engagement and increasing bilateral economic exchanges.
The high-level meeting was attended by Deputy Prime Minister and Foreign Minister Senator Muhammad Ishaq Dar, Chairman Joint Chiefs of Staff General Syed Asim Munir, and senior cabinet officials from both nations. The agreement marks over eight decades of enduring partnership, reflecting deep-rooted brotherhood and Islamic solidarity that unite the two countries.
Under the new framework, both countries will focus on priority sectors such as energy, industry, mining, information technology, tourism, agriculture, and food security. Several high-impact projects are already underway, including a Memorandum of Understanding (MoU) for electricity interconnection and a separate MoU to boost cooperation in the energy sector.
Officials emphasized that the framework not only strengthens economic and trade relations but also aligns with the shared vision of leadership and citizens of both nations. Plans are underway to convene the Saudi-Pakistan Supreme Coordination Council, which will oversee implementation and further strategic collaboration.
Prime Minister Shehbaz Sharif arrived in Riyadh with a high-level delegation to participate in the 9th Future Investment Initiative (FII) Conference, a premier global forum for investors, policymakers, and innovators. At King Khalid International Airport, he was received by Prince Mohammed bin Abdul Rahman Al Saud, Deputy Governor of Riyadh, alongside Saudi and Pakistani ambassadors.
The Prime Minister was accompanied by Federal Ministers Muhammad Aurangzeb and Atallah Tarrar, and Special Assistants Tariq Fatemi and Bilal Bin Saqib, among other senior officials. The visit aims to position Pakistan as an attractive investment destination, foster sustainable growth, and promote economic inclusivity.
During the FII conference, Prime Minister Shehbaz Sharif engaged with global leaders, investors, and policy experts, highlighting Pakistan’s opportunities in investment, human capital development, energy collaboration, and sustainable growth. The discussions also touched upon regional and global issues of mutual interest, reinforcing Pakistan-Saudi strategic cooperation and long-term partnership.
Analysts hailed the agreement as a historic milestone in bilateral relations, expected to boost trade, accelerate key projects, and deliver tangible economic benefits for the citizens of both countries.