UAE companies are eager to invest in Gwadar, which has gained importance in the framework of the China-Pakistan economic corridor that provides for the connection of the province of western China with the seaport of Balochistan.
The Ambassador of the United Arab Emirates, Hamad Obaid, Ibrahim Salem Al-Zaabi, said on Tuesday that many companies in the United Arab Emirates are willing to invest in Gwadar and that they recently visited Pakistan for that purpose. Al-Zaabi asked the Counselor of the Prime Minister of Finance, Revenue and Economic Affairs, Abdul Hafeez Shaikh.
“Pakistan and the United Arab Emirates must work together to further improve their ties in order to develop a strategic partnership,” the envoy said in the statement. The ambassador hoped that the current high level of exchanges between the two countries would open the door to investment in Pakistan.
Both sides discussed bilateral ties and emphasized the need to further promote economic and trade relations between the two countries.
Shaikh said Pakistan highly values its ties with the United Arab Emirates, which always extends its support to Pakistan in difficult times. “Both countries should take full advantage of their ties by encouraging the private sector to come and invest in Pakistan,” he said.
The evening’s adviser informed the ambassador about the vision of the Prime Minister of Pakistan. He thanked the UAE government for providing financial support to Pakistan under the Abu Dhabi Development Fund (ADFD). So far, Pakistan has received $ 2 billion from the ADFD foreign aid agency of the United Arab Emirates, which earlier this year committed $ 3 billion to deposit in the accounts of the State Bank to support foreign exchange reserves.
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