Pakistan, UAE Sign Four MoUs to Enhance Trade, Infrastructure Collaboration

Fri Nov 08 2024
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ISLAMABAD: Pakistan and the UAE signed four Memoranda of Understanding (MoUs) on Friday in the sectors of customs, rail and airport infrastructure, maritime shipping, and logistics.

According to a statement from Prime Minister Shehbaz Sharif’s office, the agreements were signed between various Pakistani ministries—the Ministry of Maritime Affairs, Ministry of Aviation, Ministry of Railways, and the Federal Board of Revenue—and the Abu Dhabi Ports Group (AD Ports).

The MoUs focus on exploring collaboration between Pakistan and AD Ports in areas such as digital customs controls, the development of dedicated freight rail corridors, upgrading Pakistan’s maritime fleet and marine services, and enhancing the country’s international airports.

In a meeting with a UAE investor delegation led by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, Prime Minister Sharif emphasised the importance of these agreements in strengthening Pakistan’s infrastructure and trade sectors.

“These MoUs will improve operational efficiency and digitalisation in customs, expand freight rail capacity, modernize our maritime services, and upgrade key international airports in Pakistan,” said the PM’s office.

Sharif further remarked that the delegation’s visit highlighted the UAE’s commitment to increasing its “investment footprint” in Pakistan, signaling a deeper economic partnership between the two countries.

He also pointed out that the UAE has played a “crucial role” in supporting Pakistan’s economy, particularly in trade, energy, and investment.

The visit from the UAE delegation comes at a time when Pakistan is actively working to strengthen trade and investment ties with friendly nations.

Earlier this year, the UAE committed to investing $10 billion in promising sectors of Pakistan’s economy.

Last month, Pakistan and Saudi Arabia also signed 27 MoUs worth $2.2 billion.

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