Islamabad: Prime Minister Shehbaz Sharif has announced upcoming agreements totaling USD 2 billion with a Saudi delegation visiting Pakistan from October 9-11. This significant development aims to deepen economic ties between Pakistan and Saudi Arabia, just ahead of the Shanghai Cooperation Organisation (SCO) summit.

According to Zameen.Com, the agreements, spearheaded by Saudi Minister for Investment Khalid Bin Abdulaziz Al-Falih, cover a broad spectrum of sectors and demonstrate a robust partnership between the two nations. The Saudi delegation includes both government and private sector representatives, highlighting the strategic nature of the visit.

In conjunction with these agreements, the federal cabinet has ratified several important measures to enhance various sectors of Pakistan’s economy. These include subsidies for the fishing industry and the official designation of Gwadar and Shanghai as sister ports, which is expected to facilitate increased maritime cooperation and boost trade.

Additional agreements ratified include bilateral political consultations with Rwanda and Ghana, as well as the delegation of judicial authority to magistrates in Gwadar and Hub to handle narcotics cases, reflecting a broad approach to strengthening national and international policies.

Moreover, the Ministry of IT and Telecom reported significant strides in improving Pakistan’s standing in the UN’s E-Government Development Index (EGDI), climbing 14 positions. This improvement underscores ongoing efforts to enhance e-governance capabilities, with the Prime Minister urging further advancements in this area and setting a two-week review period to assess progress.

This series of agreements and internal advancements marks a significant step in bolstering Pakistan’s economic and diplomatic engagements on the global stage, reflecting a proactive approach to international collaboration and domestic governance enhancement.