Qatar announces investment of $3 billion in Pakistan

Qatar announced on Monday of making a $3 billion dollars worth of new investments in Pakistan in the form of deposits and direct investments.

The state news agency Qatar News Agency on its Twitter handle  quoted Qatar’s Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani and wrote that after this investment, the economic partnership between Qatar and Pakistan will reach $9 billion.

Upon the directives of HH the Amir, the Deputy Prime Minister and Minister of Foreign Affairs announces of new investments in the form of deposits and direct investments worth a total of QR3 billion in the Islamic Republic of Pakistan. pic.twitter.com/zmH07cFRew

— Qatar News Agency (@QNAEnglish) June 24, 2019

"Qatar affirms its aspiration for further development in the relations between the two countries at all political, economic, sports and cultural levels," the news agency further quoted the foreign minister.

Deputy Prime Minister and Minister of Foreign Affairs: "The Qatari-Pakistani economic partnership will amount to $9 billion. Qatar affirms its aspiration for further development in the relations between the two countries at all political, economic, sports and cultural levels."

— Qatar News Agency (@QNAEnglish) June 24, 2019

On Saturday, the Emir of Qatar Sheikh Tamim bin Hamad Al-Thani arrived in Pakistan was on a two-day official visit. During his visit, the Emir held a one-on-one meeting with Prime Minister Imran Khan. Pakistan and Qatar also signed three Memoranda of Understanding (MoUs) on trade and investment and cooperation on financial intelligence and tourism.