Home Latest News Pakistan, U.A.E. Sign MoUs worth Billions of Dollars

Pakistan, U.A.E. Sign MoUs worth Billions of Dollars

Witnessing signing ceremony, interim Prime Minister Kakar hopes the MoUs will translate into tangible projects very soon

by Staff Report

Interim Prime Minister Anwaarul Haq Kakar meets U.A.E. President Sheikh Mohamed bin Zayed Al Nahyan. Photo courtesy PID

Pakistan and the United Arab Emirates on Monday signed various Memorandums of Understanding (MoUs) worth billions of dollars to boost economic and strategic cooperation between the two countries, according to a statement issued by the Prime Minister’s Office.

The agreements were inked during interim Prime Minister Anwaarul Haq Kakar’s two-day visit to the U.A.E. He said that the signing of the MoUs had ushered in a new era of bilateral cooperation in economic and strategic relations between the two nations. Congratulating the people of Pakistan and the U.A.E., he said the foundation of friendship between the two nations—laid by Sheikh Zayed bin Sultan Al Nahyan in the 1970s—was being taken forward by his son, Sheikh Mohamed bin Zayed Al Nahyan. The caretaker also hoped that the MoUs would turn into tangible projects very soon.

Army chief Gen. Asim Munir and various federal ministers, as well as several U.A.E. ministers, attended the signing of the MoUs, according to state-run APP. According to the Prime Minister’s Office, the MoUs pertain to investment cooperation in energy, port operations projects, wastewater treatment, food security, logistics, minerals, and banking and financial services. It claimed they would unlock billions of dollars in investment from the U.A.E. and help realize various initiatives envisioned under the civil-military Special Investment Facilitation Council (SIFC).

Also on Monday, the interim prime minister—alongside the Army chief—met with U.A.E. President Mohamed bin Zayed in Abu Dhabi and discussed global and bilateral matters. The two leaders, per a statement from the Prime Minister’s Office, underlined the historic and deep-rooted fraternal ties between Pakistan and the U.A.E. and reaffirmed a resolve to further strengthen bilateral strategic cooperation and dialogue between the two states.

During the meeting, the interim prime minister expressed profound gratitude for the U.A.E.’s firm support to Pakistan in the economic and financial domain. He also discussed various regional and global developments, with particular reference to the deteriorating human rights and humanitarian situation in occupied Palestine. Kakar 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.

The caretaker also reiterated Pakistan’s full support for the U.A.E.’s Presidency for COP28, 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.

Upon the conclusion of his U.A.E. visit, the interim prime minister is set to embark on a bilateral visit to Kuwait from Nov. 28-29, according to the Foreign Office. It said the premier would meet Kuwait Crown Prince Sheikh Meshal Al Jaber Al Sabah and Prime Minister Sheikh Ahmed Nawaf Al Ahmed Al Sabah during the visit, adding it was aimed at inking various MoUs in the fields of manpower, information technology, mineral exploration, food security, energy, and defense.

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