UAE pledges 25 billion dollars investment in Pakistan

The Prime Minister Kakar expressed profound gratitude for the UAE’s firm support to Pakistan in the economic and financial domain

ISLAMABAD: Pakistan and the United Arab Emirates (UAE) signed several Memorandums of Understanding (MoUs) worth multi-billion dollars in a range of areas on Monday to boost economic and strategic cooperation between the two countries, caretaker Prime Minister Anwaar-ul-Haq Kakar said.

The prime minister, who is on a two-day visit to the UAE, said with the signing of the MoUs, the bilateral economic and strategic relations had entered into a new era of bilateral cooperation.

Prime Minister Anwaar-ul-Haq Kakar held a bilateral meeting with His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates IN ABU DHABI. Chief of Army Staff General Syed Asim Munir, NI (M) was also present at the occasion.

The leaders underlined that Pakistan and the UAE have historic and deep-rooted fraternal ties that have stood the test of time. They reaffirmed the resolve to further strengthen bilateral strategic cooperation and dialogue between Pakistan and the United Arab Emirates. Prime Minister Kakar expressed profound gratitude for the UAE’s firm support for Pakistan in the economic and financial domain. The UAE is home to 1.8 million Pakistanis, contributing to the progress, prosperity, and economic development of the two brotherly countries.

During the meeting, regional and global developments in the region were discussed with particular reference to the escalating hostilities in occupied Palestine. The Prime Minister expressed concern about the human cost of the dire situation in Gaza and reaffirmed Pakistan’s support for a lasting solution to the Palestinian question anchored in international law and in line with relevant United Nations and OIC resolutions.

The Prime Minister reiterated Pakistan’s full support to the UAE’s Presidency for COP 28 and underlined the importance of COP 28 as an opportunity for meaningful progress towards effective and result-oriented global actions on key areas to mitigate climate impact including the establishment of the Loss and Damage fund.

The two leaders witnessed the signing of MoUs between Pakistan and the UAE pertaining to investment cooperation in the sectors of Energy, Port Operations Projects, Waste Water Treatment, Food Security, Logistics Sector, Mining, Aviation and Banking & Financial Services. These MoUs will unlock multi-billion dollars of investment from the United Arab Emirates into Pakistan and will help realise various initiatives envisioned under SIFC.

Prime Minister of Pakistan termed it as a historic event that will take economic cooperation between both brotherly countries to new heights and open doors of economic prosperity and socio-economic development of Pakistan. He highlighted the success of SIFC in creating a business and investment friendly environment through one window operation and fast tracking the initiatives.

Congratulating the people of Pakistan and the UAE, he said the foundation of friendship with Pakistan which was laid by Sheikh Zayed bin Sultan Al Nahyan in the 1970s, had been taken forward by his son Sheikh Mohammed bin Zayed Al Nahyan to a new era.

Army Chief General Asim Munir and the federal ministers were present on the occasion while on the other side, all the important ministers of UAE were also present, according to state-run APP.

PM Kakar expressed the hope that the MoUs that were signed by the two countries would turn into tangible projects very soon.

Bilateral meeting

During the visit, PM Kakar held a bilateral meeting with UAE President Mohamed bin Zayed in Abu Dhabi and discussed global and bilateral matters

General Munir was also present on the occasion, according to a statement issued by the PM’s Office.

The leaders underlined that Pakistan and the UAE have historic and deep-rooted fraternal ties that have stood the test of time.

They reaffirmed the resolve to further strengthen bilateral strategic cooperation and dialogue between Pakistan and the UAE.

Prime Minister Kakar expressed profound gratitude for the UAE’s firm support to Pakistan in the economic and financial domain.

Pakistan and United Arab Emirates (UAE) signed several multi-billion dollars Memorandum of Understandings (MoUs) in a range of areas here on Monday to boost economic and strategic cooperation between the two countries, Caretaker Prime Minister Anwaar-ul-Haq Kakar said in a video message.

The prime minister, who is on a two-day visit to the UAE, said with the signing of the MoUs, the bilateral economic and strategic relations had entered into a new era of bilateral cooperation.

Congratulating the people of Pakistan and the UAE, he said foundation of friendship with Pakistan that was laid by Sheikh Zayed bin Sultan Al Nahyan in the 1970s, had been taken forward by his son Sheikh Mohammed bin Zayed Al Nahyan to a new era.

Pakistan’s Army Chief General Asim Munir and the federal ministers were present on the occasion while on the other side, all the important ministers of UAE were also present.

He expressed the hope that the MoUs that were signed by the two countries would turn into tangible projects very soon.

The UAE is home to 1.8 million Pakistanis, contributing to the progress, prosperity and economic development of the two brotherly countries.

During the meeting, regional and global developments were also discussed with particular reference to the deteriorating human rights and humanitarian situation in occupied Palestine.

The prime minister expressed Pakistan’s support for a just and durable solution to the Palestinian question anchored in international law and in line with relevant United Nations and OIC resolutions.

He also reiterated Pakistan’s full support of the UAE’s Presidency for COP 28, underlining its importance as an opportunity for meaningful progress towards effective and result-oriented global actions in key areas to mitigate climate impact including the establishment of the Loss and Damage Fund.

The two leaders witnessed the signing of MoUs between Pakistan and the UAE pertaining to investment cooperation in the sectors of energy, port operations projects, wastewater treatment, food security, logistics, minerals, and banking and financial services.

The official statement said these MoUs will unlock multi-billion dollars of investment from UAE into Pakistan and will help realise various initiatives envisioned under the Special Investment Facilitation Council (SIFC).

Kuwait visit

Following his visit to the UAE, PM Kakar will embark on a bilateral visit to Kuwait on November 28-29, the Foreign Office said in a statement.

During the visit, the prime minister will meet Sheikh Meshal Al Jaber Al Sabah, Crown Prince of State of Kuwait, and Sheikh Ahmed Nawaf Al Ahmed AL Sabah, Prime Minister of the State of Kuwait.

The visit will include the signing of various MoUs in the fields of manpower, information technology, mineral exploration and food security, energy, and defence.

Pakistan and Kuwait enjoy deep-rooted historical ties spanning over six decades. The year 2023 marks the 60th anniversary of the establishment of diplomatic relations, as per the statement.

 

Mian Abrar
Mian Abrar
The writer heads Pakistan Today's Islamabad Bureau. He has a special focus on counter-terrorism and inter-state relations in Asia, Asia Pacific and South East Asia regions. He can be reached at [email protected]

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