Key points
- Pakistan, Saudi Arabia to unveil major economic initiatives soon.
- Sharif expected in Riyadh by October-end for announcements.
- Visit follows landmark Pak-Saudi defence pact signed last month.
- Delegation visited Riyadh to finalise economic cooperation framework.
- Both nations earlier signed $2.8 billion worth MoUs.
- Saudi Arabia prioritises agriculture, shows strong investment interest.
- Pakistan offers rice, meat, corn, sesame, dried camel milk.
- Saudis set strict timelines for projects till December 2025.
- CPEC Phase-II focuses on agriculture tech, infrastructure, farmer training.
ISLAMABAD: Pakistan and Saudi Arabia are set to unveil significant economic initiatives during Prime Minister Shehbaz Sharif’s upcoming visit to Riyadh later this month, following last month’s landmark defence pact, Pakistan’s Minister for National Food Security, Rana Tanveer Hussain said.
Hussain was part of a high-level delegation, including several ministers and officials, that recently travelled to the Kingdom to put the finishing touches on an economic cooperation framework.
Pakistan and Saudi Arabia signed a landmark defence agreement during Prime Minister Shehbaz Sharif’s visit to Riyadh last month, declaring that any act of aggression against one country would be considered an attack on both.
Alongside bolstering defence ties, both nations are eager to take their economic partnership to the next level, having previously signed 34 memoranda of understanding (MoUs) worth $2.8 billion in October 2024.
Economic agreement follow-up
“In the follow-up [to the defence pact], we went there [Saudi Arabia] to formalise [economic agreements] because when the prime minister goes to Saudi Arabia again, he will make some announcements,” Hussain said in an interview with Arab News.
“So, we went there to follow up and see how we can formally see what can be done [and] in which areas.”
Hussain said Sharif was expected to visit the Kingdom by the end of October.
Agriculture takes priority
The minister highlighted that agriculture remains a top priority for Saudi Arabia, aligning with the interests from countries like China and Iran. “In Saudi Arabia also, they [the officials] said that agriculture is [the] number one [priority] where [they] wanted to do investment and trade,” he said.
Hussain noted that Pakistan offered key products including rice, meat, corn, sesame, and dried camel milk, which has already been making inroads in markets such as China and the United States through a private Pakistani firm for the past two years.
“The Saudi government and its ministers also expressed interest in the product,” he added.
He further shared that the Kingdom showed strong interest in livestock, agriculture, and contract farming investments. “They agreed that they will work with us on these projects … I saw they were keen and passionate. They have made timelines for every step. We will finish this on Oct. 7, and that on Oct. 15, and something else on Oct. 20. This way, they have planned out everything until December 2025.”
CPEC & tech-driven farming
Hussain also discussed developments under Phase-II of the China-Pakistan Economic Corridor (CPEC), a key component of President Xi Jinping’s Belt and Road Initiative, with a renewed focus on agriculture technology transfer, infrastructure, and farmer training. “Agriculture is a major part of CPEC-II. We have discussed agriculture infrastructure, mechanisation, and other areas,” he said.
To improve data-driven decision-making in agriculture, Pakistan is working with China to integrate satellite systems and modern data tools.
“Right now, Pakistan does not have real-time, accurate data to make decisions about food security measures, crop yield projections, etc. With China’s support, our decision-making will be better.”
Hussain added that he proposed pilot projects in various regions to help local farmers adopt modern techniques:
“I have proposed to them [the Chinese] to start pilot projects in different areas of Pakistan so that farmers can learn best practices for better growth.”
