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RIYADH, Oct 28 (APP):Prime Minister Muhammad Shehbaz Sharif and Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, Prince Mohammed bin Salman bin Abdulaziz Al Saud on Tuesday agreed to launch a comprehensive Economic Cooperation Framework aimed at elevating Pakistan–Saudi Arabia relations into a new era of strategic economic partnership.
The announcement came following a high-level meeting between the two leaders here, underscoring their shared commitment to expand bilateral trade, investment, and development cooperation in key sectors of mutual interest.
The new framework builds on nearly eight decades of historic brotherhood, anchored in Islamic solidarity and mutual trust. It seeks to strengthen the role of both public and private sectors in promoting joint ventures and enhancing trade exchange between the two countries.
Under the framework, several strategic and high-impact initiatives are being explored in sectors including energy, industry, mining, information technology, tourism, agriculture, and food security. Both sides are also reviewing key agreements, including Memoranda of Understanding (MoUs) for an electricity interconnection project and cooperation in the energy sector, marking a significant step toward regional energy integration.
Prime Minister Shehbaz Sharif and Crown Prince Mohammed bin Salman reaffirmed their shared vision of building a sustainable economic partnership that reflects the aspirations of their leaderships and the people of both brotherly nations.
The two leaders also expressed their anticipation for the upcoming session of the Saudi-Pakistani Supreme Coordination Council, which will further institutionalize cooperation and ensure effective implementation of joint projects under the new framework.