Pakistan and Saudi Arabia Set to Launch Economic Corridor
ISLAMABAD: Pakistan and Saudi Arabia are advancing plans to establish the Pakistan-Saudi Economic Corridor, a transformative initiative expected to reshape regional trade and investment. The project aims to strengthen connectivity between South Asia and the Middle East, boosting shared prosperity and development.
The proposed corridor, modeled after the China-Pakistan Economic Corridor (CPEC), aligns with Saudi Arabia’s Vision 2030 and Pakistan’s growth priorities. It promises to open new avenues for foreign investment, job creation, and technology transfer.
High-Level Committee to Lead the Effort
To implement this ambitious vision, the federal government has formed an 18-member high-level committee to lead economic negotiations under the Pakistan-Saudi Arabia Economic Framework.
According to a government notification, Prime Minister Shehbaz Sharif constituted the committee to expand cooperation beyond traditional areas such as defense and energy. It will now include environmental protection, climate resilience, and sustainable development.
The committee will be co-chaired by Federal Minister for Climate Change Senator Musadik Masood Malik and Special Investment Facilitation Council (SIFC) National Coordinator Lt. Gen. Sarfraz Ahmed. Other members include federal ministers for Economic Affairs, Commerce, Energy, Food Security, IT, and Communications, along with officials from the State Bank of Pakistan, FBR, SECP, and the Pakistani Embassy in Riyadh.
Swift Action and Saudi Engagement
The notification states that the co-chairs will form dedicated teams for rapid negotiations with Saudi counterparts. All members must remain available starting October 6, 2025. The SIFC will facilitate all operations, while travel approvals for meetings will be processed within one hour to maintain momentum.
Focus on Energy, Agriculture, and Trade Balance
Pakistan plans to attract renewed Saudi investment in oil and agriculture under a ‘buy-back’ model. It will also work to boost exports and reduce the current $3 billion trade deficit in Saudi Arabia’s favor. The long-delayed oil refinery project, pending for nearly a decade, will also be on the agenda.
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