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, urging developed nations to play a greater role in addressing climate challenges. Speaking at a high-level roundtable discussion entitled ‘Is humanity heading in the right direction?’ addressing the 9th Future Investment Initiative (FII) Conference in Riyadh, the Prime Minister said that humanity must move forward in unison, sharing both its resources and 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 said, required the sharing of modern technologies to increase productivity in agriculture, industry and employment-creating sectors. He urged the developed countries to extend technological and financial support to nations like Pakistan that have been affected 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 Tax Board has been fully digitized and we are attacking corruption with full force… but Rome was not built overnight," he remarked. He said Pakistan’s 60% youth population represented both a challenge and an opportunity, adding that the government was offering skills training and employment programs to help unlock their potential. Recalling the devastating floods of 2022 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 10 most climate-vulnerable countries. He said Pakistan again faced severe floods and cloudbursts in 2025, leaving the nation helpless. "This is not acceptable and should not be the direction for humanity to move forward in times of crisis," he noted, calling for collective global action to support countries suffering from climate-induced disasters. He said that Pakistan was continuing its efforts to recover economically through hard work, reforms and mobilization of youth and resources, striving to emerge as a self-reliant and honorable nation in the comity of states. Responding to a question during the session, Shehbaz acknowledged the transformative potential of artificial intelligence (AI) and said that Pakistan was moving rapidly towards adopting artificial intelligence and other modern technologies. He emphasized the need for dialogue between the global North and South to ensure positive and inclusive use of artificial intelligence. Pakistan, he said, was equipping its youth with IT skills and developing data centers that require significant investment. Later, on the sidelines of the FII conference, Prime Minister Shehbaz met World Economic Forum (WEF) President and CEO Borge Brende. The meeting, held at the request of the WEF, included a formal invitation to the Prime Minister to attend the annual Davos meeting in January, which he accepted, assuring that Pakistan would be well represented. In his interaction with the WEF leadership, Shehbaz affirmed Pakistan’s readiness to deepen cooperation with the forum’s global business and innovation network. He highlighted the government’s structural economic reforms, focusing on stabilization, fiscal discipline and digital transformation, while emphasizing export-led growth and public-private partnerships as key policy priorities. He welcomed the WEF Partnership on Resilient Food Systems, which is critical to Pakistan’s agricultural economy, stressing that peace remained the cornerstone of prosperity. He said that Pakistan served as an important bridge connecting South Asia, Central Asia and the Middle East and expressed satisfaction with improved macroeconomic indicators during the last 18 months. Shehbaz arrived in Riyadh on Monday along with a high-level delegation. On Monday night, he called on Saudi Crown Prince Mohammed bin Salman. During the meeting, both leaders agreed to launch a ‘comprehensive economic cooperation framework’ aimed at lifting bilateral relations into 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 rooted in historic brotherhood and Islamic solidarity. The new arrangement will also strengthen the roles of the public and private sectors in promoting joint ventures and increasing trade exchanges. The leaders reviewed key agreements and memoranda of understanding, including an electricity interconnection project and energy sector cooperation, marking progress towards regional energy integration. Prime Minister Shehbaz and Crown Prince Mohammed expressed optimism regarding 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.
The Prime Minister calls for North-South synergy in technology
