United Arab Emirates President Sheikh Mohamed Bin Zayed Al-Nahyan committed to invest $10 billion in Pakistani economy.
A statement released by state-run Pakistan Television on social media platform X said the development came in an Abu Dhabi meeting of the UAE president with Prime Minister Shehbaz Sharif who is on a day-long visit to the Mideast nation.
The statement added that Sheikh Mohamed “assured UAE’s support in all circumstances and made commitment of investing $10bn in multiple sectors in Pakistan”.
Prime Minister Shehbaz expressed gratitude to the UAE leadership for hosting the 1.8 million-strong Pakistani diaspora and emphasized Pakistan’s “vast human resource potential” available for multiple sectors.
“The meeting offered a chance to discuss a wide range of bilateral relations, including cooperation in political, economic, social, cultural, and defense sectors.
The prime minister stressed the need to enhance existing cooperation and strengthen the strategic partnership, particularly in information technology, renewable energy, and tourism.
The prime minister outlined government measures to ensure socio-economic stability and boost investor confidence. He reaffirmed Pakistan’s commitment to effectively implement investment cooperation agreements in energy, port operations, wastewater treatment, food security, logistics, minerals, and banking and financial services,” the statement said.
It added that the two leaders exchanged views on other mutual interests, including regional and global developments.
Prime Minister Shehbaz reiterated his invitation to the UAE president for an official visit to Pakistan, which Sheikh Mohamed accepted.
PM Shehbaz described his discussion with the UAE president as “very productive” and expressed gratitude for the UAE’s consistent support for Pakistan. They agreed to continue working closely to further strengthen their brotherly and cooperative ties.
The premier arrived in the UAE earlier today for a day-long visit.
Upon his arrival in Abu Dhabi, he was welcomed by UAE Vice President and Deputy PM Sheikh Mansour bin Zayed Al Nahyan, as announced in a government post on X.
Pakistani Ambassador to the UAE Faisal Niaz Tirmizi, Emirati envoy to Pakistan Hamad Obaid Ibrahim, and senior officials from both countries were also present to receive the premier, according to the PML-N.
Shortly after his arrival, the prime minister described the visit as “short but important.”
“Looking forward to a fruitful exchange of views with the UAE leadership to deepen the historic and brotherly PAK-UAE ties,” he posted on X.
This was PM Shehbaz’s first visit to the UAE since taking office after the February 8 general elections.
According to Radio Pakistan, PM Shehbaz departed for the UAE earlier today with key cabinet members, including Deputy PM and Foreign Minister Ishaq Dar, Defense Minister Khawaja Asif, Interior Minister Mohsin Naqvi, Information Minister Attaullah Tarar, Commerce Minister Jam Kamal Khan, and Special Assistant to PM Tariq Fatemi.
The Foreign Office (FO) indicated that PM Shehbaz was likely to hold meetings with other Emirati dignitaries, businesspersons, and heads of financial institutions.
The FO noted that both countries have “long-standing fraternal relations deep-rooted in religion-cultural affinity,” and such high-level exchanges are a “distinguishing feature” of the brotherly ties between Pakistan and the UAE.
The visit marks an important step towards further deepening multifaceted bilateral collaboration between Pakistan and the UAE, the FO highlighted.
The premier’s visit follows high-level exchanges between Pakistan and Saudi Arabia in the past two months, including two trips to the kingdom in April