Saudi Gazette report
RIYADH — Saudi Arabia and Pakistan agreed to launch an Economic Cooperation Framework, based on the two countries' shared economic interests. The agreement was reached during the meeting between Crown Prince and Prime Minister Mohammed bin Salman and Prime Minister of Pakistan Muhammad Shehbaz Sharif in Riyadh on Monday. Both leaders also looked forward to convening the meeting of the Saudi-Pakistani Supreme Coordination Council.

Under the agreement, both countries have affirmed their mutual desire to strengthen trade and investment relations to serve their common interests, according to a joint statement issued on Tuesday. This was based on the depth of the historic partnership between Saudi Arabia and Pakistan, which has spanned nearly eight decades, and based on the strong bonds of brotherhood and Islamic solidarity that unite the leadership of both nations.

As part of the Economic Cooperation 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.

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 peoples of both nations, and serves their mutual interests.