Prime Minister Shehbaz Sharif on Tuesday called for a renewed spirit of cooperation between the Global North and South for technology transfer, resource sharing and collective progress, and urged developed nations to play a greater role in addressing climate challenges. Speaking at a high-level roundtable titled ‘Is humanity heading in the right direction?’ During the ninth Future Investment Initiative (FII) Conference in Riyadh, the prime minister said humanity must move forward in unison, sharing both its resources and its challenges. At the session, the prime minister congratulated Saudi Crown Prince Mohammed bin Salman for hosting the event and praised his transformative vision that has reshaped Saudi society. Shehbaz warned that repeated borrowing was not a sustainable recovery solution as it erodes economic resilience and hampers development. True progress, he stated, requires sharing modern technologies to boost productivity in agriculture, industry and job-generating sectors. He urged developed countries to extend technological and financial support to nations like Pakistan, which have been hit by the consequences of climate change and environmental degradation. The prime minister said Pakistan, a country rich in natural resources, was implementing major reforms to digitize governance, tackle corruption and modernize industry. "Our Federal Board of Revenue has been completely digitalized and we are attacking corruption with all our might… but Rome was not built overnight," he commented. He said Pakistan’s 60% youth population represented both a challenge and an opportunity, adding that the government was offering training and employment programs to help unlock their potential. Recalling the devastating 2022 floods that caused losses of around $130 billion, Shehbaz noted that despite contributing less than a fraction of 1% to global greenhouse gas emissions, Pakistan remained among the top 10 most climate vulnerable countries. He said Pakistan once again faced severe floods and cloudbursts in 2025, leaving the nation helpless. "This is not acceptable and should not be the direction humanity should follow in times of crisis." He noted, calling for collective global action to support countries suffering from climate-induced disasters. He said Pakistan continued its efforts to recover economically through hard work, reforms and mobilization of youth and resources, aspiring to emerge as an honorable and self-reliant nation in the community of states. Replying to a question during the session, Shehbaz acknowledged the transformative potential of Artificial Intelligence (AI) and said Pakistan was moving rapidly towards adopting AI and other modern technologies. He emphasized the need for a dialogue between the Global North and South to ensure the positive and inclusive use of AI. Pakistan, he said, was equipping its youth with IT skills and developing data centers that required substantial investment. Later, on the sidelines of the FII Conference, Prime Minister Shehbaz met with the President and CEO of the World Economic Forum (WEF), Borge Brende. The meeting, held at the request of the WEF, included a formal invitation for the prime minister to attend the annual meeting in Davos in January, which he accepted, assuring that Pakistan would be well represented. In his interaction with WEF leaders, Shehbaz reaffirmed Pakistan’s readiness to deepen cooperation with the Forum’s global business and innovation network. He highlighted the government’s structural economic reforms focused on stabilization, fiscal discipline and digital transformation, while highlighting export-led growth and public-private partnerships as key policy priorities. He welcomed the WEF partnership on resilient food systems vital to Pakistan’s agrarian economy and stressed that peace remained the cornerstone of prosperity. He said Pakistan served as a vital bridge connecting South Asia, Central Asia and the Middle East, and expressed satisfaction over the improvement in macroeconomic indicators over the past 18 months. Shehbaz arrived in Riyadh on Monday along with a high-level delegation. On Monday night he visited Saudi Crown Prince Mohammed bin Salman. During the meeting, both leaders agreed to launch a ‘Comprehensive Economic Cooperation Framework’ aimed at elevating bilateral relations to a new era of strategic economic partnership. The framework is designed to expand cooperation in trade, investment and development across multiple sectors, including energy, industry, mining, information technology, tourism, agriculture and food security. Both sides reaffirmed their shared commitment to building a sustainable economic partnership based on historical brotherhood and Islamic solidarity. The new agreement will also strengthen the role of the public and private sectors in promoting joint ventures and improving trade exchange. The leaders reviewed key agreements and memorandums of understanding, including an electricity interconnection project and cooperation in the energy sector, marking progress toward regional energy integration. Prime Minister Shehbaz and Crown Prince Mohammed expressed optimism about the upcoming session of the Saudi-Pakistan Supreme Coordination Council, which will further institutionalize cooperation and ensure effective implementation of joint projects under the new framework.
