UAE keen to invest in Pakistan

UAE ambassador met with Finance Minister Ishaq Dar and indicated interest, says Finance Ministry

The United Arab Emirates (UAE) has said that it aims to increase investment in a number of economic areas in Pakistan.

The UAE ambassador to Pakistan H.E. Hamad Obaid Ibrahim Salim Al-Zaabi recently met with Finance Minister Ishaq Dar and indicated interest, the Ministry of Finance stated on Wednesday.

The UAE envoy and the Finance Minister talked about ways to develop and expand bilateral economic and financial relations during their discussion.

Dar said that commerce, energy, refinery, and petroleum were only a few of the activities Pakistan and the UAE are involved in. However, he was reported in the statement as noting, “A lot of potential is still unexplored.”

The Finance Minister outlined many ways that both nations may improve their current trade and investment ties.

The UAE ambassador praised the present government of Pakistan for its development-oriented economic policies and “expressed the interest of the UAE in augmenting and furthering investment in various sectors of the economy of Pakistan.”

Dar expressed his approval of the investment ideas, the government’s complete cooperation, and his desire to further develop bilateral ties in the future. He said that the UAE is a significant export market for Pakistan and one of its most important friends.

The emirates extended their $2 billion loan to Pakistan earlier this year, an important step for the country’s cash-strapped government. Additionally, it disclosed a further $1 billion loan for Pakistan.

The most recent event occurs as Pakistan and the IMF are attempting to restart a rescue plan. The IMF wants friendly nations to satisfy their external financial commitments before releasing bailout cash, according to Prime Minister Shehbaz Sharif earlier this week.