RIYADH: Pakistan and Saudi Arabia have agreed to launch an Economic Cooperation Framework, based on the two countries’ shared economic interests.
According to a joint statement issued on Tuesday, the consensus was reached during a meeting between Crown Prince and Prime Minister of Saudi Arabia, Prince Mohammed bin Salman, and Prime Minister of Pakistan Muhammad Shehbaz Sharif in Riyadh.
The meeting was held on the sidelines of the Future Investment Initiative (FII) conference in Riyadh on Monday.
The Pakistani Prime Minister arrived in the Saudi capital on Monday, leading a high-level delegation to participate in the event, which gathers prominent global investors and leaders.
The summit’s discussions will focus on key global challenges and opportunities, including innovation and sustainability.
🔊PR No.3️⃣2️⃣1️⃣/2️⃣0️⃣2️⃣5️⃣
Joint Statement by the Kingdom of Saudi Arabia and the Islamic Republic of Pakistan https://t.co/HTFfIhdoOe
🔗⬇️ pic.twitter.com/kq0AghvlgT— Ministry of Foreign Affairs – Pakistan (@ForeignOfficePk) October 28, 2025
This framework represents an extension of both countries’ efforts to strengthen their fraternal relations and reaffirms their shared vision toward building a sustainable partnership across various economic, trade, and investment fields in a manner that fulfills the aspirations of their leadership and the brotherly peoples of both nations and serves their mutual interests.
The framework is based on the two countries’ shared economic interests and reaffirms their mutual desire to strengthen trade and investment relations to serve their common interests.
As part of the framework, several strategic and high-impact projects will be discussed in the economic, trade, investment, and development fields that will contribute to strengthening cooperation between the two governments, enhancing the pivotal role of the private sector, and increasing trade exchange between the two countries.
Priority sectors include energy, industry, mining, information technology, tourism, agriculture, and food security.
Both sides are currently studying several joint economic projects, including signing a Memorandum of Understanding for the electricity interconnection project between the Kingdom and Pakistan, in addition to signing of a Memorandum of Understanding for cooperation in the field of energy between the two nations.
The leaders of the two countries also look forward to convening the meeting of the Saudi Pakistani Supreme Coordination Council.
“We reaffirmed the enduring strength of the Pakistan–Saudi Arabia brotherly bonds and discussed ways to further expand this historic and time-tested partnership in trade, investment, and economic cooperation,” Prime Minister Sharif wrote on X.
It was a great pleasure and honor to meet my brother, His Royal Highness Crown Prince Mohammed bin Salman, in Riyadh today.
We reaffirmed the enduring strength of the Pakistan–Saudi Arabia brotherly bonds and discussed ways to further expand this historic and time-tested… pic.twitter.com/dYdqylsalw
— Shehbaz Sharif (@CMShehbaz) October 27, 2025
Pakistan and Saudi Arabia have historically maintained close ties, which have expanded in recent years to include enhanced strategic and economic cooperation.
During the Prime Minister’s visit to Riyadh on September 18, the two countries signed a landmark defence pact and, last year, agreed on 34 memorandums of understanding worth $2.8 billion across various sectors.
The relationship between the two nations is rooted in shared faith, mutual respect, and strategic partnership, with Riyadh serving as a key political and economic ally of Islamabad.
Saudi Arabia is also home to over 2.5 million Pakistani expatriates, who constitute the largest source of remittances for Pakistan’s $407 billion economy.
