ISLAMABAD – Pakistan and Saudi Arabia have reaffirmed their strong economic and strategic ties during a meeting between Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman. The leaders discussed enhancing cooperation across key sectors, including trade, investment, energy, and defense, aiming to strengthen the long-standing partnership.
Saudi Arabia announced a substantial $5 billion investment package to stabilize Pakistan’s foreign reserves. This builds upon earlier agreements, including 34 memorandums of understanding worth $2.8 billion signed last year. The two nations are also exploring investments in the Reko Diq copper and gold mine, one of the world’s largest undeveloped resources.
Prime Minister Sharif expressed gratitude for Saudi Arabia’s continued commitment to fostering Pakistan’s economic stability. Both leaders emphasized the importance of collaboration in defense and security to address regional challenges and maintain peace.
During the visit, Prime Minister Sharif held discussions with Saudi Investment Minister Khalid Al-Falih, highlighting Pakistan’s potential in energy, infrastructure, and agriculture sectors. The meeting concluded with a shared vision of enhancing economic ties through cultural exchanges and people-to-people connections.
