Riyadh, October 28, 2025: Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman have agreed to launch a new “Economic Cooperation Framework” aimed at strengthening trade, investment, and development ties between Pakistan and Saudi Arabia.
The agreement was announced in a joint statement issued after the two leaders met on the sidelines of the Future Investment Initiative (FII9) conference in Riyadh. The framework, according to the statement, is designed to advance the two countries’ shared economic interests and build a sustainable partnership across key sectors.
Under the framework, Islamabad and Riyadh will pursue strategic, high-impact projects in the fields of energy, industry, mining, information technology, tourism, agriculture, and food security. The initiative also seeks to enhance the role of the private sector and boost bilateral trade volumes.
The statement said both sides are currently exploring several joint projects, including the signing of a Memorandum of Understanding (MoU) for an electricity interconnection project between the Kingdom and Pakistan, as well as another MoU on cooperation in the energy sector.
“This economic model represents an extension of both countries’ efforts to strengthen their fraternal relations,” the statement noted, adding that it reflects the shared vision of Pakistan and Saudi Arabia to foster long-term growth and prosperity for their peoples.
The two leaders also reaffirmed their commitment to convene the next meeting of the Saudi-Pakistani Supreme Coordination Council (SPSCC) to advance cooperation under the new framework.
Following the meeting, Prime Minister Shehbaz wrote on X (formerly Twitter): “It was a great pleasure and honour 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 partnership in trade, investment, and economic cooperation.”
The prime minister expressed gratitude for the crown prince’s “personal commitment and resolute support in advancing our shared vision for deeper collaboration and prosperity for our two nations and peoples.”
PM Shehbaz is visiting Riyadh at the invitation of the Saudi crown prince to attend the ninth edition of the FII conference, themed “The Key to Prosperity: Unlocking New Frontiers of Growth.” He is leading a high-level delegation comprising Deputy Prime Minister and Foreign Minister Ishaq Dar, Finance Minister Muhammad Aurangzeb, Information Minister Attaullah Tarar, and special assistants Tariq Fatemi and Bilal bin Saqib.
The Pakistani delegation will represent the country at the global forum, which brings together world leaders, investors, policymakers, and innovators to discuss new avenues of sustainable growth. On the sidelines of the conference, the prime minister is also expected to hold meetings with leaders from other countries and heads of international organisations.
Pakistan and Saudi Arabia have moved in recent months to expand cooperation beyond traditional sectors, building on a series of high-level exchanges and agreements. During PM Shehbaz’s visit to Riyadh in September 2025, the two countries signed a landmark defence pact, under which an attack on one would be considered an attack against both — signalling a new era of strategic partnership.
The new economic framework, officials say, represents the next major step in deepening bilateral relations through shared investment, energy cooperation, and private-sector partnerships, aimed at translating political goodwill into tangible economic outcomes.
