Pakistan and Saudi Arabia have officially agreed to launch a new Economic Cooperation Framework, aiming to deepen bilateral trade, investment, and development ties. The agreement was reached between Prime Minister Shehbaz Sharif and Crown Prince Mohammed bin Salman during PM Shehbaz’s visit to the Kingdom for the Ninth Future Investment Initiative (FII9).
The joint statement issued by the Prime Minister’s Office (PMO) highlighted that the framework reflects both nations’ shared vision to strengthen economic relations and enhance cooperation in key sectors including energy, mining, industry, IT, tourism, agriculture, and food security.
Under the framework, both sides will explore strategic and high-impact projects, including memorandums of understanding (MoUs) for electricity interconnection and energy cooperation. The initiative aims to boost private sector participation and expand bilateral trade exchange.
The PMO emphasized that this framework represents an extension of Pakistan-Saudi Arabia’s long-standing fraternal ties and shared goal of building a sustainable partnership that benefits both nations. The two leaders also expressed interest in convening the Saudi-Pakistani Supreme Coordination Council to further solidify economic collaboration.
Prime Minister Shehbaz’s participation at FII9 underscores Pakistan’s commitment to attracting investment and aligning its development agenda with Saudi Arabia’s Vision 2030, which seeks to diversify the Kingdom’s economy and strengthen regional partnerships.
