Pakistan and Saudi Arabia have agreed to launch a framework for economic cooperation aimed at promoting trade, investment, and development collaboration between the two brotherly nations.

According to a joint statement issued after Prime Minister Shehbaz Sharif’s meeting with Saudi Crown Prince Mohammed bin Salman, the framework is built on the shared economic interests of both countries and reaffirms their mutual desire to strengthen trade and investment ties.

Key sectors identified under the framework include energy, industry, mining, information technology, tourism, agriculture, and food security.

Both sides were already cooperating on energy and power transmission projects.

According to the statement, Pakistan and Saudi Arabia have also agreed to enhance the role of the private sector and boost bilateral trade exchanges.

The framework will serve as a foundation for a new phase of economic partnership between the two nations.

The statement added that a number of strategic and high-impact projects in the economic, trade, investment, and development domains will be discussed under the framework, aimed at strengthening cooperation, expanding private sector participation, and increasing trade flows.

The joint statement stated that the framework represents a shared vision for sustainable economic partnership, reflecting both countries’ commitment to deepening economic, trade, and investment relations.

It reaffirmed that the initiative mirrors the efforts of Pakistan and Saudi Arabia to boost their relations and reflects their common desire for mutual progress and prosperity.

Both leaders expressed anticipation for the next meeting of the Saudi-Pakistan Supreme Coordination Council, which will further advance the bilateral cooperation agenda.