ISLAMABAD: Pakistan and the United Arab Emirates (UAE) on Sunday vowed to strengthen cooperation in various economic sectors.
The consensus was reached during a meeting between Pakistan’s Prime Minister Shehbaz Sharif and the United Arab Emirates President Sheikh Mohammed bin Zayed Al Nahyan in southeastern Rahim Yar Khan city of Pakistan’s Punjab province on Sunday.
Both leaders discussed a wide range of issues, including economic collaboration, regional stability, climate change, and the promotion of mutual interests on the global stage, according to a statement issued by Pakistan’s PM House.
The Prime Minister lauded the UAE’s role in Pakistan’s development and as an investment partner. He underscored Pakistan’s readiness to expand this cooperation in sectors such as renewable energy, technology, trade, infrastructure and skill development.
During the meeting, Sheikh Mohamed highlighted UAE’s interest in collaborating with Pakistan in the mining, minerals and agriculture sectors, the PM’s office said.
The meeting concluded with a joint resolve to foster greater cooperation, particularly in priority sectors, ensuring a brighter future for both nations,” it said in a statement.
Prime Minister Shehbaz Sharif extended his gratitude to UAE’s unwavering support during critical times, particularly in humanitarian assistance and development aid.
The statement said the UAE President reiterated his country’s commitment to enhancing its longstanding partnership with Pakistan, emphasising the importance of people-to-people connections and shared prosperity.
Read Also: US Approves $8b Arms Shipment to Israel Despite Gaza Genocide
The UAE is Pakistan’s third-largest trading partner, following China and the United States, and a key source of foreign investment, totalling over $10 billion in the past two decades, according to the UAE Foreign Ministry.
It is also home to more than one million Pakistani expatriates. Pakistani policymakers view the UAE as an ideal export destination, thanks to its proximity, which reduces transportation and freight costs while streamlining commercial transactions.
In January last year, Pakistan and the UAE signed several agreements valued at over $3 billion, focusing on cooperation in railways, economic zones, and infrastructure. The agreements were made during the visit of Pakistan’s caretaker Prime Minister, Anwaar-ul-Haq Kakar, to Davos, Switzerland, where he attended the 54th World Economic Forum (WEF) summit.
