Prime Minister Shehbaz Sharif announced on Friday that Pakistan and Saudi Arabia are prepared to finalize and sign a comprehensive economic package under the auspices of Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud. This was conveyed during a telephonic conversation between the two leaders.
In a significant development, the two countries had earlier signed the Strategic Mutual Defence Agreement (SMDA) in September last year, which considers an attack on either nation as aggression against both. Additionally, Saudi Arabia provided Pakistan with $3 billion in April and extended an existing $5 billion financial facility for another three years.
During their cordial conversation, the prime minister congratulated the Saudi crown prince on the historic Islamabad Peace Deal. He expressed profound gratitude for the crown prince’s unwavering support for Pakistan’s peace initiatives and praised his wise and prudent leadership throughout the ongoing crisis.
PM Shehbaz highlighted that the peace agreement between Iran and the United States was achieved within a few months largely due to the strong backing of Saudi Arabia and other Gulf states. The prime minister remarked that this support was instrumental in facilitating the deal.
In response, Crown Prince Mohammed bin Salman commended PM Shehbaz and lauded the relentless efforts of Chief of Defence Forces and Chief of Army Staff Field Marshal Syed Asim Munir, which contributed to the successful peace agreement. Both leaders agreed that the upcoming phase of negotiations between Iran and the United States should proceed smoothly, with remaining issues resolved through diplomacy and dialogue. They also emphasized the importance of vigilance against any attempts to disrupt the negotiation process.
Expressing satisfaction with the excellent state of Pakistan-Saudi bilateral relations, the prime minister reiterated his invitation to the crown prince for an official visit to Pakistan at a convenient time. He also conveyed respectful regards and best wishes to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud.
The two leaders committed to maintaining close coordination in the days ahead to further strengthen their partnership.
Meanwhile, US President Donald Trump and Iranian President Masoud Pezeshkian signed an interim peace deal this week to end a conflict that began on February 28 with US-Israeli strikes that killed Iran’s supreme leader Ayatollah Ali Khamenei. The conflict quickly escalated into a regional war, resulting in over 7,000 deaths, primarily in Iran and Lebanon. It also caused a surge in energy prices, renewed inflationary pressures, and raised concerns over a major food supply crisis in developing countries.
Pakistan has emerged as a key mediator between Iran and the United States, facilitating the interim peace deal and hosting negotiations to end the Middle East conflict. On the day prior to the peace deal signing, Prime Minister Shehbaz Sharif signed the Islamabad Memorandum of Understanding (MoU) as mediator. The document was also signed by US President Donald Trump and Iranian President Masoud Pezeshkian, marking a crucial step toward peace.
