ISLAMABAD: Pakistan and the Kingdom of Saudi Arabia (KSA) have agreed to launch an Economic Cooperation Framework (ECF) to strengthen their relationship further in the fields of economics, trade, investment and energy.
“This 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,” said a Pakistan-Saudi Arabia joint statement issued by the Foreign Office here on Tuesday.
Prime Minister Muhammad Shehbaz Sharif held a meeting with Saudi Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saudlate on Monday in Riyadh during the PM’s 3-day visit to attend the ninth edition of Future Investment Initiative-9 (FII9).
PM, MbS agree to deepen trade and investment ties
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, the joint statement remarked.
The joint communique states, “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 a Memorandum of Understanding for cooperation in the field of energy between the two nations.”
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 leaderships and the brotherly peoples of both nations, and serves their mutual interests.
The leaders of the two countries also look forward to convening the meeting of the Saudi-Pakistan Supreme Coordination Council.
Copyright Business Recorder, 2025
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