UAE urged to explore Pakistan’s energy sector

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ISLAMABAD: Planning, Development and Reform Minister Makhdum Khusro Bakhtiar has invited the UAE to benefit from the energy sector of Pakistan, which offered huge investment potential, especially in petrochemicals and hydel energy generation.

Talking to Ambassador of UAE Hamad Obaid Alzaabi in Islamabad, the minister mentioned that Pakistan and UAE enjoyed a history of cordial bilateral relations, emphasising the need to further broaden the scope of partnership.

He stated that there were many areas in which both countries could work together for mutual benefit, adding that Pakistan offered investment-friendly policies, as the government was committed to attract foreign investment to put the national economy on the trajectory of growth.

The minister appreciated UAE’s investment in PARCO and hoped that more avenues will be explored to further bilateral economic cooperation. He said that Pakistan would fully participate in Expo 2020 Dubai, being organised by UAE.

“The event will provide an opportunity to both countries to identify areas for future cooperation in diverse sectors,” he added.

The minister called for exchange of high-level visits between the two countries to further cement bilateral collaboration. He noted that a large Pakistani diaspora in UAE was contributing in the development of the country as well as acting as a bridge between the two countries. He expressed optimism that UAE would also consider initiating humanitarian projects in South Punjab.

The UAE ambassador on the occasion said both countries enjoyed a unique relationship and expressed confidence that bilateral relations would be taken to new heights in future. He also invited the federal minister to participate in a government summit which would be held in February 2019.