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Pakistan, UAE ink multi-billion dollar MoUs

News Desk
Tuesday, Nov 28, 2023

ABU DHABI: Pakistan and United Arab Emirates (UAE) signed several multi-billion dollar Memorandum of Understandings (MoUs) in a number of areas here on Monday to boost economic and strategic cooperation between the two countries, Caretaker Prime Minister Anwaar-ul-Haq Kakar said.

The MOUs signed on investment cooperation in energy, port operations projects, wastewater treatment, food security, logistics, minerals, and banking and financial services will lead to UAE’s multi-billion dollars of investment into Pakistan.

The prime minister, who is on a two-day visit to the UAE, said with the signing of the MoUs, the bilateral economic and strategic relations had entered into a new era of bilateral cooperation. COAS General Asim Munir and the federal ministers were also present on the occasion while on the other side, all the important ministers of UAE also attended the event.

Earlier, Caretaker Prime Minister Anwaar-ul-Haq Kakar held a bilateral meeting with His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates in Abu Dhabi. The leaders underlined that Pakistan and the UAE have historic and deep-rooted fraternal ties which have stood the test of time. They reaffirmed the resolve to further strengthen bilateral strategic cooperation and dialogue between Pakistan and the UAE. Prime Minister Kakar expressed profound gratitude for the UAE’s firm support to Pakistan in the economic and financial domains. The UAE is home to 1.8 million Pakistanis, contributing to the progress, prosperity and economic development of the two brotherly countries.

During the meeting, regional and global developments were also discussed with particular reference to the deteriorating human rights and humanitarian situation in occupied Palestine. The prime minister expressed Pakistan’s support for a just and durable solution to the Palestinian question anchored in international law and in line with relevant United Nations and OIC resolutions. Kakar reiterated Pakistan’s full support to the UAE’s Presidency for COP 28, underlining its importance as an opportunity for meaningful progress towards effective and result-oriented global actions in key areas to mitigate climate impact including the establishment of the Loss and Damage Fund.

Later the two leaders witnessed the signing of MoUs between Pakistan and the UAE pertaining to investment cooperation in the sectors of energy, port operations projects, wastewater treatment, food security, logistics, minerals, and banking and financial services. These MoUs will unlock multi-billion dollars of investment from United Arab Emirates into Pakistan and will help realize various initiatives envisioned under the Special Investment Facilitation Council. Congratulating the people of Pakistan and the UAE, the caretaker prime minister said the foundation of friendship with Pakistan which was laid by Sheikh Zayed bin Sultan Al Nahyan in the 1970s, has been taken forward by his son Sheikh Mohammed bin Zayed Al Nahyan to a new era. He expressed the hope that the MoUs that were signed by the two countries would turn into tangible projects very soon.

Following his visit to the United Arab Emirates, Prime Minister Anwaar ul Haq Kakar will embark on a bilateral visit to the State of Kuwait on 28-29 November 2023. During the visit, the prime minister will meet His Highness Sheikh Meshal Al Jaber Al Sabah, Crown Prince of State of Kuwait and His Highness Sheikh Ahmed Nawaf Al Ahmed AL Sabah, Prime Minister of the State of Kuwait. The visit will include the signing of various MoUs in the fields of manpower, information technology, mineral exploration and food security, energy and defence. Pakistan and Kuwait enjoy deep-rooted and historical ties spanning over six decades. The year 2023 marks the 60th anniversary of the establishment of diplomatic relations.