Islamabad – In a significant move to strengthen bilateral ties, Pakistan and the United Arab Emirates (UAE) have signed five key agreements spanning various sectors such as banking, railways, mining, and infrastructural investment. These agreements were sealed during the inaugural official visit of the Crown Prince of Abu Dhabi, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, to Pakistan, emphasizing the deepening strategic partnership between the two nations.
The signing ceremony, a highlight of the Crown Prince’s visit, was attended by top officials including Pakistan’s Prime Minister Shehbaz Sharif, UAE delegates, federal cabinet members, and Chief of Army Staff General Syed Asim Munir. The agreements, aimed at bolstering economic and infrastructural development, were witnessed by both leaders, showcasing their commitment to fostering robust bilateral relations.
Details of the Agreements:
- Banking Sector Cooperation: The agreement to enhance collaboration in the banking sector was exchanged between Secretary Finance Imdadullah Bosal and CEO & MD of IHC, Syed Basar Shueb.
- Mining Sector Development: This agreement focuses on strengthening cooperation in the mining sector, opening new doors for investment opportunities.
- Railway Infrastructure Agreements: Two Memorandums of Understanding (MoUs) were signed to modernize and expand railway networks. These were exchanged between CEO of Pakistan Railways, Amir Ali Baloch, and CEO of Etihad Rail, Shadi Malik.
- Infrastructural Investment: An MoU aimed at infrastructural investments was signed between Secretary Board of Investment Nadeem Chaudhary and CEO of AD Ports, Capt. Muhammad Juma Al Shamisi.
The agreements signify a milestone in the UAE’s commitment to invest in Pakistan’s economic sectors, expected to create employment opportunities, enhance trade, and fortify the infrastructural framework of the country. This visit not only marks a significant step in Pakistan-UAE relations but also sets the stage for greater regional collaboration and prosperity. With these developments, both nations look forward to a future of enhanced economic and diplomatic engagements.