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Pakistan

Pakistan, UAE sign MoUs worth multi-billion dollars: caretaker PM Kakar

  • Investment cooperation agreed in sectors of energy, port operations projects, waste water treatment, food security, logistics, minerals, and banking & financial services
Published November 27, 2023

Pakistan and the United Arab Emirates (UAE) have signed memorandums of understanding (MoUs) worth multi-billion dollars to boost economic, regional, and strategic cooperation, Caretaker Prime Minister Anwaar-ul-Haq Kakar said in a video statement from Abu Dhabi.

The MoUs signed between the two countries would turn into tangible projects very soon, the premier said in the video released by the Prime Minister’s Office (PMO) on X, formerly Twitter.

The interim prime minister congratulated the people of Pakistan and the UAE, saying the foundation of friendship with Pakistan was laid by Sheikh Zayed bin Sultan Al Nahyan in 1970s, and has been taken forward by his son Sheikh Mohammed bin Zayed Al Nahyan to a new era of bilateral cooperation.

In a separate message, the PMO informed that interim PM Kakar held a bilateral meeting with His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, in Abu Dhabi. The Army chief was also present at the occasion.

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, waste water treatment, food security, logistics, minerals, and banking and financial services.

Caretaker PM’s visit to UAE against electoral laws?

“These MoUs will unlock multi-billion dollars of investment from United Arab Emirates into Pakistan and will help realise various initiatives envisioned under Special Investment Facilitation Council (SIFC),” the PMO said.

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, it added.

During the meeting, the PMO added, regional and global developments were also discussed with particular reference to the deteriorating human rights and humanitarian situation in the occupied Palestine.

The prime minister expressed Pakistan’s support to a just and durable solution of the Palestinian question anchored in international law and in line with relevant United Nations and OIC resolutions.

COP28: Pakistan all set to plead its case

The PMO said 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 establishment of the Loss and Damage Fund.

Comments

200 characters
werwer Nov 27, 2023 10:40pm
“These MoUs will unlock multi-billion dollars of investment from United Arab Emirates into Pakistan" NO it will not "will help realise various initiatives envisioned under Special Investment Facilitation Council (SIFC),” NO it will not This is just all bogus, do Pakistan people actually believe in this gimmickry.
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mustafa Nov 27, 2023 11:12pm
FIPI is slowly growing in Stock Market and obviously Pakistan will get More Investments in Near Future .. all we need is to go along with IMF to stat Credible ...
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Az_Iz Nov 27, 2023 11:28pm
Mou for $12 billion refinery by KSA. And now this. Combined with $100 billion dollar exports target, $15 billion IT export target. A lot keeps happening in the politicians empty minds.
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Dr Muhammad Bilal Nov 27, 2023 11:47pm
What's the question
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Spaceman Nov 28, 2023 12:08am
Enough of MOU's, the country has signed enough MOU's that have not translated into actual investments. They are not legally binding. This is just a lollypop to keep the naïve awam happy. Only declare when you are at concrete MOA stage with something tangible and contractual.
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Muhammad Nov 28, 2023 12:10am
What a sham, such a huge imvestment and AE papers dont even mention it
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Intelligent Investor Nov 28, 2023 01:41am
OGDC All time high is 289.99 in Jan 2014.
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