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Prime Minister Shehbaz Sharif hosted a high-level Saudi business delegation led by Prince Mansour bin Mohammad Al Saud, chairman of the Saudi-Pak Joint Business Council, in Islamabad on Tuesday. The prime minister told the visitors that Pakistan sought to elevate its economic relationship with the Kingdom into a mutually beneficial strategic economic partnership in line with the vision of Crown Prince Mohammed bin Salman. He conveyed regards to King Salman and the crown prince while recalling longstanding ties between the two countries.
According to the Prime Minister’s Office, Sharif recalled Prince Mansour’s previous visits and hoped the current trip would result in the signing of several memoranda of understanding and agreements. The Saudi delegation expressed interest in investing in agriculture, ports, highways, airport outsourcing, real estate, energy, power distribution and information technology. Sharif welcomed the proposals and noted that the timing was ideal for both government-to-government and business-to-business collaboration.
In his remarks, Prince Mansour thanked the prime minister for the reception and reaffirmed Saudi interest in deepening business-to-business ties with Pakistan. The delegation planned further meetings with senior government officials and private-sector stakeholders during its stay. Prince Mansour’s role as chairman of the joint business council underscored the focus on practical commercial engagement.
Pakistan and Saudi Arabia have expanded their economic relations in recent years, with businesses from both sides signing 34 memoranda of understanding worth $2.8 billion in 2024.[[1]](https://www.pakistantoday.com.pk/2026/08/26/pakistan-seeks-strategic-economic-partnership-with-saudi-arabia-says-pm) The two countries agreed to an economic cooperation framework during Sharif’s visit to Riyadh in October 2025 aimed at bolstering trade and investment links. A statement from the Prime Minister’s Office highlighted these developments as part of growing bilateral cooperation.
Saudi Arabia rolled over $5 billion in deposits to Pakistan’s central bank for three years last month, providing important financial backing.[[2]](https://www.geo.tv/latest/679155-pakistan-seeks-strategic-economic-partnership-with-saudi-arabia-pm-shehbaz) The nations also signed a landmark defence agreement in September 2025 before advancing the economic framework.[[3]](https://www.brookings.edu/articles/the-signal-and-substance-of-the-new-saudi-pakistan-defense-pact/) These steps reflect a broadening partnership that includes both security and economic dimensions.
The latest engagement builds on repeated Saudi support for Pakistan during periods of economic challenge, including deferred oil payments and investment commitments. President Asif Ali Zardari recently emphasized the value of the strategic partnership with Saudi Arabia during a meeting with the outgoing Saudi ambassador.[[4]](https://www.arabnews.pk/node/2655667/pakistan) Officials from both sides continue to identify bankable projects in priority areas such as mining, information technology and agriculture.
