Islamabad says UAE pledges to invest $10B in Pakistan

By Aamir Latif

KARACHI, Pakistan (AA) - UAE President Sheikh Mohamed bin Zayed Al Nahyan on Thursday pledged to invest $10 billion in "multiple" sectors in Pakistan, according to a statement from the Pakistani Prime Minister’s Office.

The pledge came during a meeting between Al Nahyan and Pakistan's Prime Minister Shehbaz Sharif in Dubai, the statement said.

Both leaders exchanged views on issues of mutual interest, including regional and global developments.

"The meeting provided an opportunity to discuss whole gamut of bilateral relations including cooperation in political, economic, social, cultural and defence sectors," the statement said.

Sharif underscored the importance of galvanizing existing cooperation and strengthening strategic partnership, including in the field of information technology, renewable energy and tourism, it added.

He reiterated Pakistan’s commitment to ensure meaningful implementation of investment cooperation agreements in the areas of energy, port operations projects, wastewater treatment, food security, logistics, minerals, and banking and financial services, according to the statement.

Sharif was accompanied by Deputy Prime Minister and Foreign Minister Ishaq Dar, Commerce Minister Jam Kamal Khan, Defense Minister Khawaja Muhammad Asif and Special Assistant to Prime Minister Syed Tariq Fatemi.