Saudi Arabia and Pakistan Launch Economic Cooperation Framework to Boost Trade and Investment

Saudi Arabia and Pakistan have agreed to launch a new Economic Cooperation Framework aimed at strengthening trade and investment ties between the two countries, according to a joint statement issued by the Saudi Ministry of Foreign Affairs. The agreement was reached during a meeting in Riyadh between Saudi Crown Prince and Prime Minister Mohammed bin Salman and Pakistani Prime Minister Shehbaz Sharif. The leaders emphasized the historic partnership and strong bonds of brotherhood and Islamic solidarity that have united the two nations for nearly eight decades. The new framework is designed to build on shared economic interests and a mutual desire to deepen trade and investment relations. Both sides will focus on several strategic and high-impact projects in sectors such as energy, industry, mining, information technology, tourism, agriculture, and food security. Key initiatives under consideration include a Memorandum of Understanding for an electricity interconnection project and another for cooperation in the energy sector. The framework also aims to enhance private sector involvement and increase trade exchange between the two countries. Officials said the agreement represents an extension of both countries’ efforts to strengthen fraternal relations and build a sustainable partnership across economic, trade, and investment fields. The leaders also expressed their commitment to convening the next meeting of the Saudi-Pakistani Supreme Coordination Council. The joint statement reaffirmed the shared vision of Saudi Arabia and Pakistan to pursue projects that serve the aspirations of their peoples and advance their common interests.