Saudi Arabia Expresses Interest in Energy and Agriculture Projects with Pakistan

During a meeting between Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed Bin Salman on April 30, 2024, Saudi Arabia showed strong interest in developing energy projects and joint agriculture ventures in Pakistan. The Saudi Energy Minister, accompanied by top officials from Aramco and ACWA Power, acknowledged the deep historic ties between the two countries and showed interest in the energy projects identified by the Prime Minister. "The technical teams of the two countries would complete their work and launch many mutually beneficial projects soon," Prime Minister Sharif said, welcoming the Kingdom's interest in strengthening economic partnership with Pakistan.

The Prime Minister also highlighted the potential of Pakistan's agriculture sector, stating that the country could become a 'bread basket' for the region and play a critical role in ensuring food security. The Saudi Minister for Environment, Water, and Agriculture briefed the Prime Minister on fruitful discussions held in Islamabad, noting that Saudi agriculture companies are viewing Pakistan with great interest, considering its strategic and competitive advantages in the field.

Why this matters: The meeting between Prime Minister Sharif and Crown Prince Mohammed Bin Salman signifies a strengthening of economic ties between Pakistan and Saudi Arabia. The potential energy and agriculture projects could bring significant investment and development opportunities to Pakistan, while also contributing to regional food security and energy stability.

The meeting took place on the sidelines of the World Economic Forum Special Meeting in Riyadh. Prime Minister Sharif appreciated Saudi Arabia's vision and transformation, making it a hub of economic growth and development. He also congratulated the Saudi Minister of Economy and Planning for successfully hosting the forum. The two sides agreed to pursue the economic cooperation agenda with renewed determination, expressing hope that technical teams would soon launch mutually beneficial projects in the energy and agriculture sectors.

Key Takeaways

• Saudi Arabia showed strong interest in energy, agriculture projects in Pakistan.
• Pakistan can become a 'bread basket' for the region, ensure food security.
• Saudi agriculture companies view Pakistan favorably due to strategic advantages.
• Meeting signifies strengthening economic ties between Pakistan and Saudi Arabia.
• Technical teams to launch mutually beneficial projects in energy, agriculture sectors.