United Arab Emirates President Sheikh Mohamed Bin Zayed Al-Nahyan on Thursday dedicated to investing $10 billion in a number of sectors of the Pakistani economic system.
A press release launched by state-run Pakistan Tv on social media platform X stated the event got here in an Abu Dhabi assembly of the UAE president with Prime Minister Shehbaz Sharif who’s on a day-long go to to the Mideast nation.
The assertion added that Sheikh Mohamed “assured UAE’s assist in all circumstances and made dedication of investing $10bn in a number of sectors in Pakistan”.
PM Shehbaz conveyed his gratitude to the UAE management for internet hosting the Pakistani diaspora of 1.8 million and highlighted Pakistan’s “large human useful resource potential” that could possibly be engaged in a number of sectors.
“The assembly offered a possibility to debate entire gamut of bilateral relations, together with cooperation in political, financial, social, cultural and defence sectors. [The] prime minister underscored the significance of galvanising present cooperation and strengthening strategic partnership, together with within the subject of knowledge expertise, renewable power and tourism.
“[The] prime minister highlighted steps taken by the federal government aimed toward making certain socio-economic stability within the nation and constructing traders’ confidence. He reiterated Pakistan’s dedication to make sure significant implementation of funding cooperation agreements within the areas of power, port operations initiatives, wastewater therapy, meals safety, logistics, minerals, and banking and monetary providers,” the assertion stated.
It added that the 2 exchanged views on different problems with mutual curiosity, together with regional and world developments.
PM Shehbaz additionally reiterated his invitation to the UAE president for an official go to to Pakistan, which Sheikh Mohamed accepted.
In UAE not to seek loans but ‘collaborations, investments’
Earlier, PM Shehbaz said the aim of his day-long visit was “not to seek loans but joint collaborations and investments”.
Addressing a round table session of the IT community in Abu Dhabi, he said: “Today I am here […] not to seek loans but to seek joint collaborations and joint investments, which have mutual benefits for the investor and draw dividends through hard work, ingenuity and by using modern tools and skills.
“I want to share with you my broad parameters of our programme; we want to provide the highest quality vocational training and empower our youth with modern skills so that they can come to the UAE,” he added.
“From Pakistan, […] provide services through remote mechanisms and generate livelihoods, support SMEs, startups, and other integral activities combined with this. I’m prepared to take this risk,” PM Shehbaz asserted.
“Gone are the days when I will go to a brotherly country with a begging bowl; I have broken that bowl.”
“That bowl will lead us nowhere. When was the last time that a country prospered through aid, handouts and bowls?” he asked.
The prime minister said that in his meeting with the UAE president, he would request him to “offer your trainers to train our people”.
PM Shehbaz further expressed his “iron resolve to completely transform the economy of Pakistan in collaboration with our brothers here in UAE — be it through joint ventures, collaborations or knowledge-sharing partnerships”.
“In the short span of 2.5 months, we have transformed our IT ministry in Islamabad but there’s a long way to go,” he added. The premier noted that Pakistan’s population, almost 60 per cent of which comprised of youth, offered great potential.
The prime minister highlighted that he had “spent the last two and a half months focusing on how to promote information technology and artificial technology in various sectors of our economy”, including IT, agriculture, mines and minerals.
PM Shehbaz praised the UAE president for “carving out a way forward which will not be dependent on oil and gas but on non-oil and non-gas economy”, adding that it did so by training its youth, promoting industrial complexes and digital economy, and making the country a hub of imports and exports.
He further appreciated the UAE president for being “generous like his great father, supporting Pakistan in its most difficult times”. “We will never forget his support and generosity to Pakistan.”
State Minister for IT Shaza Fatima Khawaja also addressed the event.
Arrival in Abu Dhabi
Earlier today, the premier arrived in the UAE on a day-long visit, where he is expected to discuss trade and investment with the Gulf nation’s president.
Upon his arrival in Abu Dhabi, the premier was welcomed by UAE Vice President and Deputy PM Sheikh Mansour bin Zayed Al Nahyan, the government said in a post on X.
Pakistani Ambassador to UAE Faisal Niaz Tirmizi, Emirati envoy to Pakistan Hamad Obaid Ibrahim and senior officers from each international locations had been additionally current to obtain the premier, the PML-N said.
Shortly after his arrival, the prime minister described the go to as “brief however necessary”.
“Trying ahead to a fruitful alternate of views with the UAE management with a view to deepen the historic and brotherly PAK-UAE ties,” he stated in a post on X.
That is PM Shehbaz’s first go to to the UAE since assuming his office after the February 8 basic elections.
In keeping with Radio Pakistan, PM Shehbaz had earlier right now departed for the UAE together with key cupboard members, together with Deputy PM and Overseas Minister Ishaq Dar, Defence Minister Khawaja Asif, Inside Minister Mohsin Naqvi, Info Minister Attaullah Tarar, Commerce Minister Jam Kamal Khan and Particular Assistant to PM Tariq Fatemi.
Through the go to, the premier is anticipated to satisfy UAE President and Ruler of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan, the FO had stated in a press release issued on Wednesday.
The 2 leaders will talk about bilateral relations between Pakistan and the UAE with a “particular deal with commerce and funding”, it had said.
In keeping with the FO, PM Shehbaz can also be more likely to maintain conferences with different Emirati dignitaries, businesspersons and heads of economic establishments.
The FO, noting that each international locations have “long-standing fraternal relations deep-rooted in religio-cultural affinity”, had stated that such high-level exchanges kind a “distinguishing function” of brotherly ties between Pakistan and the UAE.
The go to marks an necessary step in direction of additional deepening multifaceted bilateral collaboration between Pakistan and the UAE, the FO had highlighted.
The premier’s go to follows high-level exchanges between Pakistan and Saudi Arabia up to now two months, together with two trips made to the dominion in April.
Shehbaz last visited the UAE in July 2023 — throughout his earlier time period because the prime minister — to console the loss of life of the UAE President’s brother, Sheikh Saeed bin Zayed Al-Nahyan.
Previous to that, he made a two-day journey to the Gulf nation in January 2023 to strengthen financial, commerce and funding ties with the nation.