Islamabad: Prime Minister Shehbaz Sharif on Friday said that Pakistan and Saudi Arabia are ready to finalize and sign a comprehensive economic package under the patronage of Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, marking another significant step in strengthening bilateral ties.
The prime minister made the remarks during a warm and cordial telephone conversation with the Saudi crown prince, according to a statement issued by the Prime Minister’s Office (PMO).
During the call, Prime Minister Shehbaz Sharif congratulated Crown Prince Mohammed bin Salman on the signing of the historic Islamabad Peace Deal and praised Saudi Arabia’s continued support for regional stability and economic cooperation.
The two leaders reviewed the state of bilateral relations and reaffirmed their commitment to further enhancing economic, strategic, and investment partnerships between the two brotherly countries.
Pakistan and Saudi Arabia have significantly expanded cooperation in recent years. In September last year, both nations signed the landmark Strategic Mutual Defence Agreement (SMDA), under which an attack on either country is considered an act of aggression against both.
Earlier this year, Pakistan also received $3 billion from the Saudi Ministry of Finance, while Riyadh extended its existing $5 billion financial facility for an additional three years, providing crucial support to Pakistan’s economy.
According to the PMO, the upcoming comprehensive economic package is expected to deepen economic collaboration, attract investment, and open new avenues for trade and development between the two countries.
The conversation concluded with both leaders expressing satisfaction over the strong and enduring relationship between Pakistan and Saudi Arabia and reiterating their commitment to expanding cooperation across multiple sectors.