ABU DHABI: In a significant development, the United Arab Emirates (UAE) has pledged an additional investment of $10 billion into Pakistan.
The commitment was made during a meeting between Pakistan’s Prime Minister Shehbaz Sharif and UAE President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi, where the Prime Minister was on a one-day visit.
Accompanied by a delegation including Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar, Minister for Commerce Jam Kamal Khan, Minister for Defence Khawaja Muhammad Asif, and Special Assistant to the Prime Minister Syed Tariq Fatemi, Prime Minister Shehbaz Sharif extended condolences on the recent losses suffered by the Al Nahyan family.
The meeting served as a platform to discuss various facets of bilateral relations encompassing political, economic, social, cultural, and defense cooperation. Prime Minister Shehbaz underscored the significance of bolstering existing ties and enhancing strategic partnerships, particularly in fields such as information technology, renewable energy, and tourism.
Highlighting Pakistan’s endeavors towards socio-economic stability and fostering investor confidence, Prime Minister Shehbaz reiterated the country’s commitment to effectively implement investment agreements across sectors including energy, port operations, wastewater treatment, food security, logistics, minerals, and banking and financial services.
Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, assured unwavering support and announced a $10 billion investment across various sectors in Pakistan. Expressing gratitude for the UAE’s hospitality towards the 1.8 million-strong Pakistani diaspora, Prime Minister Shehbaz emphasized the significant human resource potential that Pakistan possesses, which could be harnessed across multiple sectors.
The leaders also exchanged views on regional and global developments, with Prime Minister Shehbaz extending an invitation for an official visit to Pakistan, which was accepted by Sheikh Mohamed bin Zayed Al Nahyan.
In a social media post, Prime Minister Shehbaz Sharif expressed appreciation for the warm hospitality and affection shown by the UAE President towards Pakistan, describing the meeting as highly productive and emphasizing the commitment of both sides to further fortify the brotherly and cooperative ties between Pakistan and the UAE.
