PM urges North-South synergy on tech

RIYADH:

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 titled 'Is Humanity Heading in the Right Direction?' during the 9th Future Investment Initiative (FII) Conference in Riyadh, the prime minister said 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 cautioned that repeated loans were not a sustainable recovery solution, as they erode economic resilience and hinder development. True progress, he said, required sharing modern technologies to boost productivity in agriculture, industry, and employment-generating sectors.

He urged the developed countries to extend technological and financial support to nations like Pakistan, which have been battered 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 digitise governance, tackle corruption, and modernise industry. "Our Federal Board of Revenue has been completely digitised, and we are attacking corruption with full might... 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 skill training and employment programmes 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 once again faced severe floods and cloudbursts in 2025, leaving the nation helpless. "This is not acceptable, and it should not be the direction for humanity to proceed in times of crisis," he observed, 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 mobilisation of youth and resources, aspiring to emerge as a self-reliant and honourable nation in the comity of states.

Responding to a question during the session, Shehbaz recognised the transformative potential of Artificial Intelligence (AI) and said Pakistan was moving swiftly towards adopting AI and other modern technologies.

He emphasised the need for 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 centres requiring substantial 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 WEF's request, included a formal invitation for the prime minister to attend the annual Davos meet in in January, which he accepted, assuring that Pakistan would be well represented.

In his interaction with WEF leadership, 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 stabilisation, fiscal discipline, and digital trans-formation, while stressing export-led growth and public-private partnerships as key policy priorities.

He welcomed WEF's partnership on resilient food systems vital for Pakistan's agrarian economy and underscored that peace remained the cornerstone of prosperity. He said Pakistan served as a vital bridge connecting South Asia, Central Asia, and the Middle East, expressing satisfaction over improved macro-economic indicators during the past 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 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 rooted in historic brotherhood and Islamic solidarity. The new arrangement will also strengthen public and private sector roles in promoting joint ventures and enhancing trade exchange.

The leaders reviewed key agreements and memoranda of understanding, including an electricity interconnection project and energy sector cooperation, marking progress toward regional energy integration.

Prime Minister Shehbaz and Crown Prince Mohammed expressed optimism about the upcoming session of the Saudi-Pakistani Supreme Coordination Council, which will further institutionalise cooperation and ensure the effective implementation of joint projects under the new frame-work.