Pakistan, UAE ink Landmark agreement

Pakistan, UAE ink Landmark agreement

In Islamabad, Pakistan and the United Arab Emirates (UAE) have signed several Memoranda of Understanding (MoUs), facilitating multi-billion dollar investments in diverse initiatives outlined by the Special Investment Facilitation Council (SIFC).

The signing ceremony occurred in Abu Dhabi, witnessed by Caretaker Prime Minister Anwaarul Haq Kakar and UAE President Sheikh Mohammed bin Zayed Al Nahyan after a bilateral meeting. These MoUs encompass investment cooperation in sectors such as energy, port operations, wastewater treatment, food security, logistics, mining, aviation, and banking and financial services.

The agreements aim to promote collaboration and stimulate significant investments in these crucial areas, according to a statement from the Media Wing of the Prime Minister’s Office and the Information Ministry. On this occasion, Kakar hailed the MoUs as a historic event that will elevate economic cooperation between the two countries, fostering economic prosperity and socio-economic development in Pakistan.

He emphasized the success of the SIFC in creating a business-friendly environment and fast-tracking initiatives. Kakar expressed optimism that the MoUs would soon translate into tangible projects.

During his two-day visit to the UAE, Kakar, in a video message, declared the signing of the MoUs as marking a new era of bilateral cooperation in economic and strategic relations, extending congratulations to the people of Pakistan and the UAE.

In earlier talks with Sheikh Mohamed, Kakar and the UAE President reaffirmed their commitment to strengthening bilateral strategic cooperation and dialogue. Kakar expressed profound gratitude for the UAE’s unwavering support in the economic and financial domains, acknowledging the significant contribution of 1.8 million Pakistanis residing in the UAE to the progress, prosperity, and economic development of both nations.