Pakistan and the United Arab Emirates have sealed a major deal, signing an investment agreement worth over $3 billion. This pact focuses on enhancing cooperation in railways, economic zones, and infrastructure development. The agreement was signed during the World Economic Forum in Davos, Switzerland.
The deal was formalized through the signing by high-ranking officials from both countries. Shahid Ashraf Tarar, Pakistan’s Federal Minister for Communication, Railways and Maritime Affairs, represented Pakistan. Sultan Ahmed bin Sulayem, Chairman of Ports, Customs and Free Zone Corporation of Dubai, signed on behalf of the UAE. This was confirmed in a press release from Pakistan’s Ministry of Railways.
Minister Tarar highlighted the role of DP World, representing the Dubai Government in Pakistan, underscoring the strong relationship and mutual trust between the two countries. He expressed optimism about future joint projects stemming from this agreement.
Sultan Ahmed bin Sulayem pointed out Pakistan’s importance as a growing market and a key trade link to Central Asia. He praised the UAE’s role in enhancing Pakistan’s trade capacities, notably through the Qasim International Container Terminal, and expressed the UAE’s commitment to further strengthening economic ties with Pakistan.
This agreement marks a significant step in deepening economic relations between Pakistan and the UAE, indicating a commitment to collaborative development in the region.
The Pakistan-UAE infrastructure deal reflects a substantial commitment to mutual growth, particularly in railways and economic zones. The collaboration, formalized at the World Economic Forum, demonstrates both countries’ dedication to fostering strong economic ties and trade enhancement. The expressed optimism from officials indicates a positive outlook for future joint projects and strengthened relations.