Pakistan and Saudi Arabia are approaching the establishment of a Saudi economic transit, a move that can renounce regional trade, investment and communication between South Asia and the Middle East.
The proposed transit project, developed after the China Pakistan Economic Transit (CPEC), has been created in accordance with Saudi Arabia’s vision 2030 and Pakistan’s development priorities, and it is expected that investment, job creation and technology will open new opportunities.
To advance this promising agenda, the federal government has constituted a high -level committee of May 18, in which Pakistan has been entrusted with economic talks under Saudi Arabia’s economic framework.
According to an official notification, the committee constituted by Prime Minister Shahbaz Sharif is to extend cooperation from the traditional defense and energy sectors, which can include environmental protection and climate stability.
The committee will be chaired by Federal Minister for Climate Change Senator Mossad Masood Malik and Special Investment Facility Council (SIFC) National Coordinator Lieutenant General Sarfraz Ahmed. Other key members include Federal Ministers for Economic Affairs, Trade, Energy, Food Security, IT, and Communications, as well as senior officials of the State Bank of Pakistan, the Federal Board of Revenue, the Securities and Exchange Commission for the Pakistani Embassy in Riyadh.
The notification states that the co -president will set up dedicated teams to negotiate with his Saudi counterparts, which must be available to all members starting on October 6, 2025. Within an hour to ensure rapid progress.
The committee is also given the option to include additional members as needed and it will have to submit performance reports to the Prime Minister every fifteen days.
Pakistan will seek renewing Saudi investment in oil and agriculture under the ‘bakeback’ model, and at this time the Billion in Saudi Arabia’s favorite will emphasize exports to reduce 3 billion trade deficit. The long -term delayed oil refinery project, which has been pending for almost a decade, is also expected on this agenda. Prime Minister Shahbaz Sharif will likely visit Saudi Arabia at the end of October to finalize economic agreements under the new framework.
This economic push comes in connection with last month’s historic “strategic bilateral defense agreement” between the two countries. Prime Minister Shahbaz Sharif’s visit to Riyadh at the invitation of Saudi Arabia’s Prince and Prime Minister Muhammad bin Salman, the agreement announced that “any aggression against the two countries would be considered aggression against both.”