ISLAMABAD: Saudi Arabia is preparing to sign a strategic economic cooperation agreement with Pakistan to expand bilateral investment and trade ties, the Saudi ambassador to Pakistan said.
Ambassador Nawaf bin Said Al-Malki made the remarks while speaking to media on the sidelines of a humanitarian assistance event in Islamabad.
The planned agreement follows the Strategic Mutual Defense Agreement signed between the two countries last year, which formalized security cooperation and joint deterrence commitments.
According to the ambassador, the upcoming framework will focus on priority sectors including energy, mining, industry, information technology, tourism, agriculture and food security.
Officials said the initiative builds on earlier understandings reached during Prime Minister Shehbaz Sharif’s visit to Riyadh, where both countries agreed to enhance economic collaboration and facilitate investment projects.
The two sides have already signed several memorandums of understanding in recent years covering infrastructure, energy and development projects, while discussions are ongoing regarding additional investment opportunities.
Separately, a Saudi humanitarian program launched a Ramadan assistance initiative in Pakistan aimed at distributing food packages to vulnerable households across multiple districts.
Authorities say the broader cooperation agenda reflects efforts by both governments to institutionalize long-term economic partnership alongside existing defense and political ties.
