Islamabad, March 18: Prime Minister Shehbaz Sharif is set to undertake an official visit to Saudi Arabia on March 19, 2025, (Wednesday) with the goal of strengthening bilateral ties and boosting economic cooperation between the two nations, as per a statement from Pakistan’s Foreign Office (FO).
The Prime Minister will be accompanied by Deputy Prime Minister and Foreign Minister Senator Ishaq Dar, along with key federal ministers and senior officials during the visit.
During his time in Saudi Arabia, Prime Minister Sharif will meet with Saudi Crown Prince and Prime Minister Mohammed bin Salman.
The two leaders are expected to focus on ways to enhance trade relations, expand partnerships in key sectors, and encourage more investment between the two countries.
Key Issues to be Discussed
The leaders will also discuss a range of issues of mutual interest, including regional and global developments, particularly the ongoing Gaza situation, dynamics in the Middle East, and matters related to the Muslim Ummah.
The visit highlights the historical and strong ties between Pakistan and Saudi Arabia and is anticipated to pave the way for increased cooperation in trade, investment, and greater diplomatic coordination on both regional and global matters.
Recent Developments in Bilateral Ties
This visit comes after recent progress in economic collaboration between the two nations. Last month, Pakistan and Saudi Arabia signed Memorandums of Understanding (MoUs) worth $2.2 billion.
Read More: Saudi Envoy Supports Pakistan’s Economy
In addition, Pakistan has secured a $1.2 billion Saudi oil facility on a deferred payment plan.
Deputy Prime Minister Ishaq Dar also met Saudi Vice Minister of Foreign Affairs, Waleed Abdul Karim El-Khereiji, in New York.
Where they reiterated their commitment to expanding economic cooperation and exploring new avenues for collaboration in trade, investment, and commercial sectors.
Pak-Saudi Economic Ties
Pakistan and Saudi Arabia share a long history of strong economic and diplomatic ties, marked by collaboration in various sectors, including trade, investment, and energy.
Saudi Arabia has been a major economic partner for Pakistan, providing financial support and investments, especially in the form of oil facilities and loans.
A notable example is the $1.2 billion Saudi oil facility provided to Pakistan on deferred payments, which helps mitigate the country’s energy crisis.
Also Read: Pakistan, Saudi Arabia Vow Stronger Economic Partnership
Trade between the two nations is also significant, with Saudi Arabia being one of Pakistan’s key trade partners in the Middle East.
The trade mainly consists of petroleum products, chemicals, and machinery from Saudi Arabia, while Pakistan exports textiles, rice, and other agricultural products. Both countries have also engaged in joint ventures in various sectors, including agriculture and infrastructure.
Moreover, Saudi Arabia has been a major source of remittances for Pakistan, with millions of Pakistanis working in the Kingdom, contributing significantly to Pakistan’s economy.
Recent collaborations have included the signing of $2.2 billion worth of MoUs, aimed at enhancing bilateral trade and investment.
With both countries keen on deepening their economic partnership, there are growing opportunities for future cooperation in sectors such as energy, defense, and technology.
The ongoing diplomatic efforts aim to further enhance these ties for mutual economic prosperity.
