Saudi-Pakistan Economic Cooperation: A New Era of Bilateral Trade and Investment

Pakistan and Saudi Arabia have established an Economic Cooperation Framework to fortify trade and investment, reinforcing their historic partnership. This framework encompasses collaboration in multiple sectors, including energy, industry, and technology, following a recent defence pact, aiming to enhance bilateral relations and economic growth.

Pakistan and Saudi Arabia unveiled an Economic Cooperation Framework on Tuesday, enhancing bilateral trade and investment. This follows a recent joint defence pact between the two nations.

The economic framework was solidified during a meeting between Crown Prince Mohammed bin Salman and Pakistani Prime Minister Shehbaz Sharif in Riyadh. It aims to leverage shared economic interests to strengthen trade and investment ties.

Key sectors highlighted under this agreement include energy, mining, and information technology. Both countries are considering several joint projects, like an electricity interconnection initiative, further signifying the deepening of Saudi-Pakistani relations.

(With inputs from agencies.)