Prime Minister Shehbaz Sharif has welcomed the announcement by the United Arab Emirates (UAE) of investing one billion dollars in various se...
Prime Minister Shehbaz Sharif has welcomed the announcement by the United Arab Emirates (UAE) of investing one billion dollars in various sectors of Pakistan.
According to the official news agency 'APP', there has been a telephone conversation between Prime Minister Shahbaz Sharif and UAE President Sheikh Mohammed bin Zayed Al Nihan.
UAE's official news agency WAM reported last week that the state plans to invest $1 billion in Pakistani companies in various sectors.
The move is likely to help restore the confidence of investors in the country who are worried about the devaluation of the rupee along with dwindling foreign exchange reserves.
Also read: UAE's decision to invest one billion dollars in Pakistani companies
Earlier, Prime Minister Shehbaz Sharif thanked the UAE President in a tweet that his country was going to invest in various sectors of Pakistan.
The Prime Minister highlighted the support provided by the UAE to Pakistan over the years and thanked them.
According to a statement issued by the Prime Minister's Office, the two leaders discussed issues of mutual interest while reiterating the close brotherly relations between the two countries and also agreed to work together to further enhance bilateral cooperation in various fields.
The Prime Minister expressed grief and sympathy for the loss of precious lives, including Pakistani nationals, as a result of the recent floods in the UAE.
It was stated in the statement that the President of the United Arab Emirates, Sheikh Mohammed bin Zayed Al Nihan, also expressed his heartfelt condolences on the loss of lives caused by floods in Pakistan and the martyrdom of military personnel in a helicopter crash.
Prime Minister Shehbaz Sharif reiterated the decisions taken during his visit to the UAE in April 2022 and the two leaders reviewed the progress made on this while further enhancing trade and economic cooperation including partnership in investment, energy and infrastructure construction. Determined to strengthen.
Read more: Sheikh Mohammed bin Zayed Al Nahyan elected President of the United Arab Emirates
The statement issued by the Prime Minister's Office added that Pakistan and the UAE have close fraternal ties rooted in common beliefs, values and culture, the UAE is Pakistan's largest trading partner in the Middle East and is a source of investment and hosts more than 1.6 million Pakistanis.
It should be noted that according to the news agency Reuters, the official news agency WAM told in a report from the government sources of Abu Dhabi that the United Arab Emirates has expressed its intention to invest one billion dollars in companies in various sectors of Pakistan.
The report said that the UAE will continue to cooperate with Pakistan in various sectors, including gas, energy infrastructure, renewable energy and health.
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