Pakistan and Saudi Arabia have agreed to launch an Economic Cooperation Framework (ECF) to enhance bilateral cooperation in trade, investment, and energy. The framework was finalized during Prime Minister Shehbaz Sharif’s visit to Riyadh, where he met Crown Prince Mohammed bin Salman at the Future Investment Initiative conference.
ISLAMABAD — Pakistan and the Kingdom of Saudi Arabia (KSA) have agreed to establish an Economic Cooperation Framework (ECF) a strategic initiative aimed at strengthening bilateral relations through expanded collaboration in trade, investment, and energy.
The announcement came in a joint statement from Pakistan’s Foreign Office on Tuesday following Prime Minister Shehbaz Sharif’s meeting with Saudi Crown Prince and Prime Minister Mohammed bin Salman in Riyadh. The meeting took place during the Prime Minister’s three-day visit to attend the 9th edition of the Future Investment Initiative (FII9) conference.
According to the statement, the ECF is designed to build on the shared economic interests of both nations and reflects their mutual desire to deepen trade and investment cooperation.
“This framework is based on shared economic interests and reaffirms the mutual desire to strengthen trade and investment relations to serve the common interests of both countries,” the statement read.
Focus on Strategic Projects
The framework identifies priority sectors including energy, industry, mining, information technology, tourism, agriculture, and food security. Several high impact initiatives are already being discussed, such as:
- A Memorandum of Understanding (MoU) for electricity interconnection between Saudi Arabia and Pakistan.
- A MoU for cooperation in energy, aimed at promoting sustainable energy projects and expanding regional power connectivity.
Both sides also agreed to boost the role of the private sector in driving cross-border investment and increasing bilateral trade volumes.
A Vision for Sustainable Partnership
The ECF marks a new milestone in Pakistan Saudi relations, reaffirming their long standing fraternal and strategic partnership. The initiative is aligned with Saudi Arabia’s Vision 2030, promoting economic diversification, and Pakistan’s development priorities in renewable energy, digital infrastructure, and industrial modernization.
“This framework represents an extension of both countries’ efforts to strengthen their fraternal relations and reaffirms their shared vision toward building a sustainable partnership,” the joint communiqué stated.
Next Steps
The two leaders also agreed to convene the next meeting of the Saudi-Pakistan Supreme Coordination Council, which will oversee the implementation of the ECF and evaluate upcoming joint ventures.
The move is seen as a significant diplomatic and economic milestone, expected to boost investor confidence, expand trade opportunities, and pave the way for long-term energy collaboration between the two nations.
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