A new framework for economic cooperation between Saudi Arabia and Pakistan
The Kingdom of Saudi Arabia and the Islamic Republic of Pakistan announced the launch of a new economic cooperation framework aimed at strengthening economic and trade relations between the two countries. This announcement comes as part of ongoing efforts to bolster the historic partnership that spans more than eight decades, a partnership rooted in fraternal ties and Islamic solidarity between the two leaderships and peoples.
Economic Cooperation: Trends and Objectives
Saudi Crown Prince Mohammed bin Salman bin Abdulaziz and Pakistani Prime Minister Shahbaz Sharif, during a meeting in Riyadh, agreed on the importance of this new framework based on shared economic interests. The agreement aims to strengthen trade and investment relations, serving the aspirations of both countries.
The framework encompasses cooperation across a diverse range of vital sectors, including energy, industry, mining, information technology, tourism, agriculture, and food security. This diversity reflects the desire to strengthen cooperation between the two governments and increase trade, with a focus on engaging the private sector in achieving these goals.
Quality projects and new agreements
Among the important projects currently under discussion is the signing of a memorandum of understanding for the Saudi-Pakistani electricity interconnection project, in addition to an energy cooperation agreement. These projects reflect the importance of cooperation in strategic areas that serve the aspirations of both nations and contribute to comprehensive development.
A shared vision towards a sustainable partnership
This framework is part of the shared vision of both countries to build a sustainable partnership across various economic sectors. The leaders of Saudi Arabia and Pakistan look forward to strengthening fraternal relations, ensuring the balanced and strategic realization of their mutual interests. They also anticipate holding a meeting of the Saudi-Pakistani High Coordination Council, a step that will enhance bilateral cooperation and broaden its horizons.
In light of these developments, the Saudi position appears positive, as the Kingdom seeks to strengthen cooperation with Pakistan within a strategic vision that achieves mutual benefit. These steps underscore the pivotal role Saudi Arabia plays in supporting stability and development in the region.
