Abu Dhabi, UAE – The UAE and Pakistan recently sealed a significant deal, potentially injecting between $20 to $25 billion into Pakistan’s struggling economy, according to media reports.
The agreements, covering diverse sectors like energy, ports, food security, and finance, were signed after a meeting between caretaker Prime Minister Anwaarul Haq Kakar and UAE President Sheikh Mohammed bin Zayed Al Nahyan in Abu Dhabi.
Although the specific value of the Memorandums of Understanding (MoUs) was not disclosed, reports said they expected substantial investment by the UAE in Pakistan. The move comes as Pakistan grapples with economic challenges, including a balance of payments crisis and dwindling foreign exchange reserves.
Prime Minister Kakar hailed the signing as a historic milestone that would elevate economic cooperation between the two nations, fostering socio-economic growth in Pakistan. The bilateral meeting also involved discussions between Sheikh Mohammed and Chief of Army Staff General Syed Asim Munir.
Kakar expressed gratitude for the UAE’s steadfast support in the economic and financial realms, while reaffirming Islamabad’s backing of the UAE’s Presidency of the COP2.
