PAKISTAN and the United Arab Emirates on Thursday signed five accords to boost bilateral cooperation and to bolster existing robust framework for long-term collaboration in multifaceted sectors on the occasion of Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan’s first official visit to Islamabad.
The documents were signed in different fields, including banking, railways, mining and infrastructural investment.
The visiting dignitary reaffirmed the UAE’s steadfast support for Pakistan’s economic development and prosperity.
The warmth with which the Crown Prince was received in Pakistan and his hectic engagements during the short visit reflected the closeness of relations between the two brotherly countries and the understanding reached during the visit will surely help take this relationship to new heights.
As pointed out by the Prime Minister, it was a matter of huge satisfaction that the two countries were now working more closely than ever before to transform their excellent political ties into a mutually beneficial economic partnership.
The credit for this definitely goes to President Asif Ali Zardari, Prime Minister Shehbaz Sharif and Chief of Army Staff General Asim Munir who have been maintaining personal rapport with the leadership of the UAE in their bid to solidify bilateral ties in different fields.
The UAE is one of Pakistan’s largest trading partners in the Middle East and a major source of remittances with a large Pakistani expatriate population living and working there but there is greater scope for cementing relations, especially in realms of investment, trade and import of more Pakistani manpower.
It is encouraging that the strong political commitment to boost ties is now being translated into practical measures to forge economic cooperation as evident from signing of agreements in the fields of mining and railways.
Pakistan has been striving to attract investment from Gulf countries in agriculture and exploitation of natural resources and the Crown Prince reaffirmed that the UAE-Pakistan strategic partnership stands as a distinguished model of impactful collaboration, driving progress across railway network expansion, natural resource exploration and financial sector investments.
His Highness highlighted that these efforts serve as powerful enablers of sustainable economic growth and strengthening trade and investment exchanges between the two nations.
Connectivity is central to efforts aimed at turning Pakistan into a hub of regional trade and investment and with this in view, it is important to note that an MoU has been signed aimed at enhancing the operational efficiency of Pakistan’s existing railway network, in addition to establishing a new railway network.
This cooperation is expected to help improve connectivity across Pakistan, facilitate mobility and support the country’s economic growth.
This objective assumes special significance in the backdrop of the remarks of Prime Minister Shehbaz Sharif that the project of Uzbekistan-Afghanistan-Pakistan Railway Line was discussed and Uzbekistan showed keen interest in the project.
He further said that the project would benefit the ports of Gwadar and Abu Dhabi and would prove to be a game-changer for the whole region.
Similarly, the accords signed to undertake joint exploration project for copper and gold in Chaghai district of Balochistan; the intention of a UAE company to acquire majority shares in the First Women Bank; and understanding to develop a Special Economic Zone near Karachi Port and Port Qasim to facilitate trade and economic activity in the region will be instrumental in not only bringing the two countries more closer but also accelerate the pace of socio-economic development in Pakistan.
There is no doubt that the leadership of both nations shared a unified vision, recognizing economic and developmental collaboration as a cornerstone for driving sustainable growth.
With this in view, it is hoped that the relevant ministries and departments of the two countries will work hard to translate this vision into practical projects and programmes on a fast-track basis as is being done in the case of $2 billion investment pledged by the President of Azerbaijan.
It is all the more important that the issues hindering a substantial increase in export of Pakistani manpower to UAE might be addressed on a priority basis.
