UAE to Invest $10 Billion to Boost Pakistan’s Economy

Abu Dhabi: Pakistan and UAE have signed the agreement for investment worth $10 billion (approximately Dh36. 7 billion) to support the development of potential areas of economic growth in Pakistan, the Ministry of Investment of the UAE informed.

This was made on Thursday shortly after a meeting held between His Highness Sheikh Mohamed Bin Zayed Al Nahyan President of the UAE and Shehbaz Sharif, Prime Minister of Pakistan. In a nutshell, the main objective of the meeting was to strengthen cooperation in regards to the support of the Pakistani economy.

At the meeting in Qasr Al Shati, Prime Minister Sheikh Mohamed discussed with Prime Minister Sharif how the two countries can advance their cooperation in the priority fields such as economy, trade and development for mutual benefits that form a vision of the two countries’ vision of sustainable economic development.

The Prime Minister of Pakistan stated his country’s readiness to fatten their relationship and cooperation, particularly in field of economy, trade, and investment, and learn from the UAE’s success stories.

Sheikh Khaled bin Mohamed bin Zayed Al Nahyan the crown prince of Abu Dhabi, Sheikh Hamdan bin Zayed Al Nahyan the Ruler’s Representative in Al Dhafra Region, Sheikh Hamdan bin Mohamed bin Zayed Al Nahyan, Sheikh Mohammed bin Hamad bin Tahnoun Al Nahyan Advisor for Special Affairs at the Presidential Court, Ali bin Hammad Al Shamsi the Secretary-General of the Supreme Council for National

One-Day Visit

Earlier, the Head of the Government of Pakistan Shehbaz Sharif landed in Abu Dhabi on Thursday on an official visit to the UAE. Vice President, Prime Minister of UAE and Ruler of Dubai Sheikh Mohammed Bin Rashid Al Maktoum and Sheikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs, and a number of officials welcomed Prime Minister of Pakistan Muhammad Nawaz Sharif upon his arrival at Al Bateen Executive Airport in Abu Dhabi, said WAM.

It is the first visit to UAE by Sharif since his assumption to the power early this year. He was accompanied essential businessmen of the Pakistani cabinet including Deputy Prime Minister and Minister for Foreign Affairs Ishaq Dar.