RIYADH: Pakistan and Saudi Arabia have taken a major step towards strengthening their economic ties with the signing of a landmark Economic Cooperation Framework.
The agreement, reached during a high-level meeting between Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman in Riyadh, aims to deepen bilateral collaboration across multiple sectors, enhancing trade, investment, and sustainable development.
The framework focuses on a wide range of priority sectors, including energy, industry, mining, information technology, tourism, agriculture, and food security. This partnership not only promises to boost both economies but also seeks to integrate the private sector, drive joint ventures, and increase trade flows between the two nations. Among the key projects being explored are a memorandum of understanding for the electricity interconnection project and enhanced energy cooperation.
Leaders from both countries have expressed their shared vision for a future of mutual growth and prosperity, underscoring the long-term significance of these initiatives. As part of the framework, the Saudi-Pakistani Supreme Coordination Council is also set to convene to further solidify the partnership and discuss strategic economic projects that will drive progress in both nations.
This cooperation marks a new era of collaboration, reflecting the mutual desire to build a sustainable and prosperous future for both nations and their peoples.
