Pakistan and the United Arab Emirates (UAE) solidified their economic ties through a series of memorandums of understanding (MoUs) inked during a meeting between caretaker Prime Minister Anwaarul Haq Kakar and UAE President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi. The MoUs, spanning diverse sectors such as energy, port operations, wastewater treatment, food security, logistics, minerals, and banking and financial services, are expected to unlock multi-billion dollars in investment from the UAE into Pakistan. The agreements align with the initiatives envisioned under the Special Investment Facilitation Council (SIFC), marking a historic milestone in Pak-UAE economic collaboration.
Pakistan, UAE Locked Multi-Billion Dollars Investment
The Prime Minister’s Office (PMO) emphasized that these strategic partnerships are not merely symbolic but hold substantial economic weight, paving the way for significant investments that will fuel various projects in Pakistan. The sectors targeted by the MoUs encompass vital aspects of national development, promising a substantial boost to Pakistan’s economic landscape.
During the meeting, PM Kakar expressed gratitude for the UAE’s unwavering support to Pakistan, highlighting the significant role played by 1.8 million Pakistanis residing in the UAE in contributing to the progress and prosperity of both nations. The leaders also talked about regional and global issues, discussing the humanitarian situation in occupied Palestine and reiterating support for a just and durable solution based on international law and relevant resolutions.
Beyond Economic Collaboration
The discussions extended beyond economic cooperation, encompassing shared commitments to address climate change. Pakistan affirmed its support for the UAE’s presidency at the United Nations Climate Change Conference 2023 (COP 28), emphasizing the conference’s role in driving meaningful global actions. The resolve to strengthen economic and strategic ties underscores the deep-rooted and historic fraternal relationship between Pakistan and the UAE, which has withstood the test of time.
The visit’s importance extends beyond the UAE, as PM Kakar is scheduled for a bilateral visit to Kuwait, where further MoUs are anticipated. Additionally, his participation in COP 28 in Dubai signifies Pakistan’s active involvement in global climate discussions, emphasizing the shared responsibility to mitigate climate impacts; this confluence of diplomatic and economic engagements marks a pivotal moment in the trajectory of Pak-UAE relations, setting the stage for robust collaboration in the years to come.
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