ISLAMABAD: Pakistan’s Defence Minister Khawaja Asif on Monday said that ties between Pakistan and Saudi Arabia have entered a “new era” of strategic partnership, marked by plans for multi-billion-dollar investments across key sectors.
The statement came days after Pakistan and Saudi Arabia agreed to establish an Economic Cooperation Framework to enhance trade and investment ties, following Prime Minister Shehbaz Sharif’s meeting with Saudi Crown Prince Mohammed bin Salman on the sidelines of the Future Investment Initiative Summit in Riyadh last month.
This development followed the signing of a security agreement between the two nations, under which any act of aggression against one would be considered an attack on both.
The accord appears to formalise long-standing military cooperation into a binding commitment aimed at strengthening joint deterrence as the two sides deepen their partnership.
Speaking at a seminar in Islamabad, Defence Minister Asif said that the Pakistani Prime Minister’s recent engagements with the Saudi leadership have revitalised strategic cooperation between the two countries and paved the way for multi-billion-dollar investments in the energy, mining, and infrastructure sectors.
“With Saudi Arabia, our relations have entered a new era of mutual confidence and economic collaboration,” he said. “The renewed momentum in the Saudi-Pak Supreme Coordination Council stands as a hallmark of this strengthened partnership.”
Pakistan and Saudi Arabia are preparing to hold discussions on a range of strategic and high-impact projects under their new economic framework, a Pakistani government statement said late last month.
The talks will focus on key sectors including energy, industry, mining, information technology, tourism, agriculture, and food security.
During their meeting in Riyadh, Prime Minister Shehbaz Sharif and the Saudi Crown Prince expressed optimism that the next meeting of the Saudi-Pakistan Supreme Coordination Council—the top forum guiding the strategic direction of bilateral relations—would be convened soon to further advance their shared agenda.
Pakistan and Saudi Arabia have long shared close relations but have worked in recent years to expand the scope of their cooperation. Last year, the two nations signed 34 memoranda of understanding worth $2.8 billion across various sectors.
The relationship between Pakistan and Saudi Arabia is founded on shared faith, mutual respect, and strategic collaboration.
Riyadh remains a key political and economic partner for Islamabad and is home to more than 2.5 million Pakistani expatriates—the largest source of remittances for Pakistan’s economy, valued at over $400 billion.
