Pakistan Saudi Economic Cooperation: Launch Economic Cooperation Framework to Boost Bilateral Ties

Strengthening Economic Partnership

Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman have agreed to launch a comprehensive Economic Cooperation Framework to enhance trade and investment relations between Pakistan and Saudi Arabia. The agreement, announced in a joint statement issued on the sidelines of the Future Investment Initiative (FII9) conference in Riyadh, underscores the two nations’ shared commitment to expanding economic collaboration across key sectors.

Both leaders reaffirmed their mutual resolve to advance economic and trade cooperation that serves their common interests and reflects the enduring strength of their bilateral relationship.

Strategic Projects Under the Framework

Under the newly established framework, strategic and high-impact projects will be pursued in several key fields, including economy, trade, investment, and development. These projects aim to deepen cooperation between the two governments, strengthen the role of the private sector, and significantly increase trade exchange.

The priority sectors identified include energy, industry, mining, information technology, tourism, agriculture, and food security. These focus areas are expected to generate sustainable growth opportunities, create employment, and enhance overall economic stability for both countries.

The statement further highlighted that Pakistan and Saudi Arabia are currently studying several joint economic projects, including a Memorandum of Understanding (MoU) for an electricity interconnection project between the two nations. Another MoU for cooperation in the energy sector is also being finalized, marking a new phase of collaboration in sustainable energy development.

Shared Vision for Sustainable Growth

The Economic Cooperation Framework represents a continuation of both countries’ efforts to strengthen their fraternal and strategic relationship. The joint statement emphasized that Islamabad and Riyadh share a common vision for building a sustainable partnership across diverse economic and investment domains.

This cooperation seeks to fulfill the aspirations of the leadership and the people of both nations while promoting prosperity and mutual development. The leaders also expressed their intent to convene the next session of the Saudi-Pakistani Supreme Coordination Council, which will oversee and facilitate the implementation of the agreed initiatives.

PM Shehbaz’s Remarks and High-Level Engagements

Following his meeting with the Crown Prince at Al Yamamah Palace, Prime Minister Shehbaz Sharif expressed his gratitude for the warm reception and reaffirmed the “enduring strength of Pakistan–Saudi Arabia brotherly bonds.” He highlighted the shared vision to expand cooperation in trade, investment, and economic development, and appreciated the Crown Prince’s personal commitment and support in advancing bilateral collaboration.

The prime minister’s visit to Riyadh was made at the invitation of Crown Prince Mohammed bin Salman to attend the ninth edition of the FII9 conference. He is leading a high-level delegation, including Deputy Prime Minister and Foreign Minister Ishaq Dar, Finance Minister Muhammad Aurangzeb, Information Minister Attaullah Tarar, and special assistants Tariq Fatemi and Bilal bin Saqib.

The delegation is representing Pakistan at the global forum, which brings together world leaders, investors, and policymakers under the theme, “The Key to Prosperity: Unlocking New Frontiers of Growth.” On the sidelines of the event, PM Shehbaz is also scheduled to meet leaders from other countries and heads of international organizations.

Expanding Cooperation Beyond Traditional Areas

The latest development reflects a broader shift in Pakistan–Saudi relations, moving beyond traditional spheres of engagement such as energy and defense. Both nations have recently taken steps to expand cooperation in economic and security domains, following several landmark agreements signed over the past year.

During PM Shehbaz’s visit to Riyadh on September 18, the two countries also signed a landmark defense pact, under which an attack on one nation will be considered an attack against both — highlighting the strategic depth and mutual trust that define this partnership.