ISLAMABAD: Pakistan and Saudi Arabia have concluded seven agreements valued at $560 million.
This follows the signing of 34 memoranda of understanding (MoUs) between the two countries in a brief span, highlighting their commitment to deepening bilateral investment across multiple sectors.
Prime Minister Shehbaz Sharif chaired a high-level meeting in Islamabad on Monday to review the progress of these agreements, emphasizing the importance of the strategic partnership between Pakistan and Saudi Arabia.
The session was part of the ongoing efforts under the Pakistan-Saudi Arabia Joint Task Force, which convened its second meeting in November.
During the briefing, PM Sharif was informed that, out of the 34 MoUs signed, seven have been formalized into binding agreements worth $560 million, with investments spanning across key sectors.
The meeting was attended by key government officials, including Deputy Prime Minister Ishaq Dar, Federal Minister for Economic Affairs Ahad Khan Cheema, and Finance Minister Muhammad Aurangzeb.
Premier lauded the progress of the ongoing projects and reiterated Pakistan’s desire to strengthen its ties with Saudi Arabia, a longstanding ally.
“Saudi Arabia has always been a reliable partner for Pakistan, supporting us through challenging times,” Sharif said, adding that the government is committed to expanding cooperation in areas like economic development, energy, and infrastructure.
Sources also confirmed that Prime Minister Sharif will travel to Saudi Arabia for a two-day visit starting tomorrow. His trip will include participation in the Water Summit, as well as engagement in sideline events during COP 16.
