Pakistan, UAE Ink Five Agreements On Banking & Mining
Pakistan and the United Arab Emirates have strengthened their bilateral ties with the signing of five cooperation agreements across multiple sectors including banking, railways, mining, and infrastructure investment. The documents were signed during the first official visit of Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan to Pakistan at Prime Minister Shehbaz Sharif’s invitation.
Agreements and Memorandums Signed
The signing ceremony was attended by both the crown prince and Prime Minister Sharif, along with federal cabinet members, Chief of the Army Staff General Syed Asim Munir, and members of the UAE delegation. The agreements included:
- A bilateral cooperation agreement in banking, exchanged between Secretary Finance Imdadullah Bosal and CEO & MD of IHC Syed Basar Shueb
- An agreement to boost cooperation in mining
- Two Memorandums of Understanding (MOUs) for railway cooperation, exchanged between Pakistan Railways CEO Amir Ali Baloch and Etihad Rail CEO Shadi Malik
- An MOU for infrastructure investment, exchanged between Board of Investment Secretary Nadeem Chaudhary and AD Ports CEO Captain Muhammad Juma Al Shamisi
High-Level Diplomatic Engagement
The crown prince arrived at Nur Khan Airbase where he was welcomed by President Asif Ali Zardari and Prime Minister Shehbaz Sharif, along with cabinet members and senior officials. During their meetings, Prime Minister Sharif reaffirmed Pakistan’s commitment to strengthening the historic bonds between the two nations.
Also read this: Pakistan, UAE Expand Trade, Defense, And Economic Cooperation
Sharif referenced his recent meeting with UAE President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi, expressing satisfaction that the two countries are working closely to transform their political ties into mutually beneficial economic partnerships. The prime minister also mentioned discussions about the Uzbekistan-Afghanistan-Pakistan Railway Line project during his recent visit to Uzbekistan, noting Uzbekistan’s interest and highlighting how the project would benefit both Gwadar and Abu Dhabi ports.
The crown prince, accompanied by senior officials and business leaders, thanked the prime minister and reaffirmed the UAE’s support for Pakistan’s economic development. In a social media post following the meetings, Prime Minister Sharif described the discussions as “most fruitful” and expressed the shared resolve to strengthen bilateral ties through enhanced cooperation in trade, investment, and energy sectors.
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