ISLAMABAD: Pakistan and the United Arab Emirates (UAE) took a significant step towards enhancing bilateral relations on Thursday, as both nations signed five landmark agreements aimed at boosting cooperation in key sectors, including banking, railways, mining, and infrastructure investment.
The agreements were finalized during the first official visit of Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi, to Pakistan. His visit was at the invitation of Prime Minister Shehbaz Sharif, marking a new chapter in the strategic partnership between the two countries.
The signing ceremony, which was attended by Prime Minister Sharif, the Crown Prince, federal cabinet members, and high-ranking officials including Chief of Army Staff General Syed Asim Munir, was held in Islamabad. Both sides exchanged pre-signed documents covering a range of cooperative frameworks that are set to enhance bilateral ties.
One of the key agreements aims to bolster cooperation in the banking sector. The document was exchanged between Secretary of Finance, Imdadullah Bosal, and the CEO & Managing Director of the International Holding Company (IHC), Syed Basar Shueb. This accord is expected to pave the way for enhanced financial and banking services between the two countries.
In another significant development, an agreement was signed to foster collaboration in the mining sector. The deal was inked to further support the mining industries in both nations, which hold vast potential for mutual growth and development.
The railways sector also saw a major boost as two Memorandums of Understanding (MoUs) were signed. The first MoU was between the CEO of Pakistan Railways, Amir Ali Baloch, and Shadi Malik, the CEO of Etihad Rail, to improve railway services and infrastructure. The second MoU focuses on collaborative efforts for enhancing rail connectivity and operations.
Read more: UAE Crown Prince Sheikh Khaled to Visit Pakistan, MoUs Expected
Moreover, an MoU related to infrastructure investment was signed by Nadeem Chaudhary, Secretary of the Board of Investment, and Captain Muhammad Juma Al Shamisi, CEO of AD Ports. This agreement is aimed at increasing investment in Pakistan’s growing infrastructure sector, which is key to economic development.
These agreements reflect a growing commitment to strengthen ties between Pakistan and the UAE, with both countries keen on enhancing their economic, infrastructural, and technological cooperation. With the signing of these accords, both nations are poised to benefit from deeper collaboration, which is expected to bring positive outcomes in various sectors.
As the visit concludes, these agreements stand as a testament to the strong and evolving partnership between Pakistan and the UAE, with further opportunities for collaboration anticipated in the near future.
Comments are closed, but trackbacks and pingbacks are open.