KARACHI: Mian Zahid Hussain, the President of Pakistan Businessmen and Intellectuals Forum, has applauded the Makkah Joint Defence Agreement among Pakistan, Saudi Arabia, and Türkiye as a pivotal step towards collective security and regional stability. The agreement, signed in Makkah on August 7, 2026, unites the three nations under a mutual defense framework, wherein an armed attack against one is deemed an attack on all, aiming to enhance collective deterrence and defense cooperation.
According to Pakistan Businessmen and Intellectuals Forum, the Makkah Pact underscores the economic, demographic, and defense synergy of the involved nations, which together represent a $3.33 trillion economic bloc with a population exceeding 370 million. The alliance combines Pakistan's nuclear capabilities, Saudi Arabia's economic strength, and Türkiye's defense technology, creating a significant regional strategic alliance. The pact is also seen as a platform for expanding markets and attracting investment, potentially positioning Pakistani industry and exports at the center of an emerging regional framework.
Hussain emphasized the economic opportunities for Pakistani businesses, notably in sectors such as defense engineering, information technology, and pharmaceuticals, among others. He highlighted the potential for joint ventures and technology transfer, with Saudi investment and Turkish technology enhancing Pakistan's export-oriented industries. The alliance aims to extend cooperation beyond security to connectivity, trade, and finance, fostering industrialization and employment.
Hussain credited the leadership efforts of Prime Minister Muhammad Shehbaz Sharif, Field Marshal Syed Asim Munir, and Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar in realizing the historic agreement. With steps towards institutionalization, including plans for a ministerial-level mechanism and a permanent secretariat in Saudi Arabia, Hussain stressed the importance of establishing a trilateral economic and investment roadmap to maximize the pact's economic potential.