ISLAMABAD: Pakistan’s foreign office spokesperson said on Thursday that certain initiatives related to the Pakistan Saudi Arabia Economic Cooperation Framework “are being materialized,” describing the economic partnership between the two countries as “solid, firmly rooted.”
Islamabad and Riyadh agreed to launch an Economic Cooperation Framework in October, as per the Prime Minister’s Office (PMO), to expand bilateral trade and investment ties. This decision was taken during a meeting between Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman in Riyadh.
Sharif’s office had said the framework will see the two countries focus on priority sectors including energy, industry, mining, information technology, tourism, agriculture and food security.
“Pakistan-Saudi economic partnership is solid, firmly rooted,” Tahir Andrabi, the foreign office spokesperson, said during a weekly news briefing. “There were certain initiatives taken during the visit of our prime minister to the Kingdom of Saudi Arabia and are being materialized.”
Andrabi said Pakistan’s Special Investment Facilitation Council (SIFC) and the Board of Investment are working on “individual investments” between the two countries but did not provide any further details.
