PM, MBS agree to launch Pak-Saudi ‘Economic Cooperation Framework’
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Prime Minister Shehbaz Sharif meets Saudi Crown Prince and Prime Minister Mohammed bin Salman at Al Yamamah Palace on October 27, 2025. — X/@CMShehbaz
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Prime Minister Shahbaz Sharif and Saudi Crown Prince Mohammed bin Salman have agreed to establish a new “economic cooperation framework” aimed at promoting common economic interests and strengthening bilateral ties between Pakistan and Saudi Arabia.
According to a joint statement issued today after their meeting on the sidelines of the Future Investment Initiative (FII9) conference in Riyadh, the leaders reaffirmed their mutual desire to strengthen trade and investment ties to serve their common interests.
As part of the framework, a number of strategic and high-impact projects in the economic, trade, investment and development sectors will be discussed.
These projects will help strengthen cooperation between the two governments, enhance the role of the private sector and increase trade between the two countries. Priority sectors include energy, industry, mining, information technology, tourism, agriculture and food security.
It also stated that Islamabad and Riyadh are “currently studying a number of joint economic projects, including the signing of a memorandum of understanding for an electricity interconnection project between the kingdom and Pakistan, in addition to signing a memorandum of understanding for cooperation in the energy sector between the two countries”.
The economic model “represents an extension of the two countries’ efforts to strengthen their fraternal ties.”
It also affirmed Pakistan and Saudi Arabia’s commitment to sustainable partnership in various economic, trade and investment sectors in a manner that fulfills the aspirations of their leadership and the aspirations of the fraternal people of the two countries and serves their mutual interests.
Prime Minister Shahbaz and MBS also looked forward to the Saudi-Pakistani Supreme Coordination Council meeting.
After meeting MBS at Al Yamamah Palace a day earlier, Prime Minister Shehbaz wrote on X, “It is a great pleasure and honor to meet my brother today in Riyadh, His Royal Highness Crown Prince Mohammed bin Salman.”
“We reaffirmed the enduring strength of Pakistan-Saudi Arabia bonds of brotherhood and discussed ways to further expand this historic and time-tested partnership in trade, investment and economic cooperation.”
The Prime Minister added that he was “deeply grateful for His Royal Highness’s personal commitment and enthusiastic support in furthering our shared vision for deep mutual cooperation and prosperity for our two countries and peoples.”
The Premier is visiting Riyadh at the invitation of the Saudi Crown Prince to participate in the ninth edition of the FII9 Conference.
Prime Minister Shehbaz is leading a high-level delegation to FII-9, which includes Deputy Prime Minister and Foreign Minister Senator Ishaq Dar, Finance Minister Muhammad Aurangzeb, Information Minister Muhammad Aurangzeb, and economic advisers Tariq Fatemi and Bilal bin Saqeeb.
A high-level delegation will represent Pakistan at the global forum, which brings together world leaders, investors, policymakers and innovators under the theme: “Key to Prosperity: Unlocking New Frontiers of Growth.”
On the sidelines of FII 9, the Prime Minister will also interact with leaders of other participating countries and heads of international organizations.
After a series of agreements signed over the past year, Pakistan and Saudi Arabia have sought to deepen their longstanding relationship by expanding cooperation beyond traditional areas of engagement.
During Prime Minister Shehbaz’s visit to Riyadh on September 18, the two countries signed a major defense agreement. According to the treaty, an attack on one nation would be considered an attack on both.
