ISLAMABAD: The Pakistan Regional Economic Forum and Saudi Bridge have signed a strategic memorandum of understanding (MoU) to promote business-to-business (B2B) cooperation between Pakistan and Saudi Arabia, with support from Chinese technologies, according to an official statement issued on Sunday.
The MoU was signed to launch the Saudi-Pakistan Bridge Initiative, a structured bilateral platform aimed at facilitating private sector investment, market access and cross-border economic partnerships among Pakistan, Saudi Arabia and other regional countries.
Signed in Riyadh in the presence of senior government and institutional representatives, the agreement establishes a long-term framework aligned with Saudi Arabia’s Vision 2030, focusing on translating cooperation into actionable projects and measurable economic outcomes.
Under the initiative, the platform will serve as a permanent activation mechanism to enable transaction-oriented collaboration among investors, enterprises, investment funds and ecosystem stakeholders from both countries.
Priority sectors identified under the framework include energy, mining, sports goods manufacturing, logistics, food and agri-processing, healthcare, technology, industrial manufacturing, construction and strategic services.
The initiative will implement sector-specific business delegations, market entry and soft-landing programmes, regulatory engagement workshops, joint investment forums and a One-Stop Bridge Desk to facilitate bilateral cooperation during its initial three-year phase.
Speaking to The News, economist Haroon Sharif said the forum had already helped identify and finalise joint ventures worth approximately $500 million between businesses of the two countries, in collaboration with the Saudi government and Pakistan’s Special Investment Facilitation Council (SIFC).