Pakistan, UAE Resolve to Further Strengthen Economic Cooperation

Mon Nov 27 2023
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ABU DHABI: Pakistan and the United Arab Emirates (UAE) have affirmed their commitment to further strengthen economic and strategic cooperation.

This reaffirmation was expressed during a meeting between Pakistan’s Caretaker Prime Minister Anwaar-ul-Haq Kakar – who is on a two-day official visit to UAE – and the UAE President, Sheikh Mohamed bin Zayed Al Nahyan, here on Monday. Pakistan’s Chief of Army Staff (COAS), General Syed Asim Munir, was also present on the occasion.

During the meeting, the two leaders underlined that Pakistan and the UAE had historic and deep-rooted fraternal relations which had stood the test of time.

The meeting between Pakistan’s PM Kakar and UAE President Sheikh Mohamed bin Zayed Al Nahyan saw the signing of several Memoranda of Understandings (MoUs) covering key sectors.

The signed MoUs encompass investment cooperation in critical sectors such as energy, port operations, wastewater treatment, food security, logistics, minerals, and banking and financial services. These agreements are poised to unlock multi-billion dollars of investment from the UAE into Pakistan, contributing significantly to the realization of initiatives outlined under the Special Investment Facilitation Council (SIFC).

Economic Partnership Between Pakistan and UAE

Prime Minister Kakar, in a video message, hailed the signing of the MoUs as a historic event marking the beginning of a new era in the Pak-UAE economic partnership. He expressed gratitude for the UAE’s unwavering support in the economic and financial domain.

The agreements are expected to translate into tangible projects in the near future, signaling a transformative phase in the bilateral relations between the two countries.

During the meeting, the leaders also discussed regional and global developments, with a particular focus on the deteriorating human rights and humanitarian situation in occupied Palestine. Prime Minister Kakar reiterated Pakistan’s support for a just and durable solution to the Palestinian question in accordance with international law and relevant United Nations and OIC resolutions.

The prime minister voiced Pakistan’s full support for the UAE’s Presidency for COP 28, emphasizing its significance as an opportunity for meaningful progress in addressing climate change, including the establishment of the Loss and Damage Fund.

The UAE, home to 1.8 million Pakistanis, was acknowledged for their contributions to the progress, prosperity, and economic development of both nations.

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