Saudi Arabia and Pakistan inking a defense pact considered a significant landmark, according to Egypt's Foreign Office.
Pakistan and Saudi Arabia have bolstered their longstanding partnership with the inking of a Strategic Mutual Defense Agreement on Wednesday. The pact, which aligns with Saudi Arabia's Vision 2030 program, aims to fortify joint deterrence and reinforce decades of military and security cooperation between the two nations.
The defense agreement vows that aggression against one country will be considered an attack on both, emphasizing the commitment of both nations to each other's security. This pact could lead to the sharing of technology between Pakistan and Saudi Arabia, presenting opportunities for Pakistan to secure capital and technology.
The defense pact is anticipated to bring several benefits to Pakistan. Khaqan Najeeb, a former financial advisor in Pakistan's Ministry of Finance, believes it could assist Pakistan in stabilizing its economy, which is currently grappling with a macroeconomic crisis and has secured loan packages from the International Monetary Fund (IMF). The agreement could result in increased exports from Pakistan to Saudi Arabia, potentially providing more jobs for the Pakistani workforce.
Saudi Arabia is a pivotal investor for Pakistan, and the defense pact could further cement this relationship. The Kingdom views Pakistan as a source of fertile land, skilled labor, and potential food security links. Pakistan is also a top remittance source for Saudi Arabia, making the relationship between the two nations economically significant.
The leaders of both countries discussed regional and international developments during their conversation, reaffirming their commitment to multilateral cooperation. They look forward to substantial interactions at the United Nations General Assembly next week.
Egypt's Foreign Minister, Dr. Badr Abdelatty, has congratulated Pakistan and Saudi Arabia on the signing of the defense agreement. The move comes at a time of extreme volatility in the Middle East, underscoring the importance of robust alliances for regional stability.
The defense pact between Pakistan and Saudi Arabia is a significant stride in their relationship and could play a pivotal role in stabilizing Pakistan's economy. The agreement is expected to fortify the bond between the two nations and contribute to peace and stability in the region.
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