UAE To Invest $1b In Pakistan To Expand Bilateral Economic Ties

The United Arab Emirates (UAE) on Friday said it will invest $1 billion in Pakistani companies in various sectors to boost bilateral economic ties.

“Our intention is to explore new investment opportunities inside the country through this financial support as well as expand bilateral economic relations between the two countries,” news outlet WAM quoted an official source in Abu Dhabi.

Speaking on condition of anonymity, the official said that the UAE and Pakistan are interested in boosting cooperation in the areas of gas, energy infrastructure, renewable energy, healthcare and biotechnology.

“The two countries would also take steps to enhance cooperation in fields of agricultural technology, logistics, digital communications, e-commerce and financial services,” the official added.

Pakistan Prime Minister Shehbaz Sharif had earlier visited the UAE and held meetings with top officials aimed at improving economic ties and attracting more UAE’s investments in Pakistan.

Sharif said that Pakistan attaches the highest priority to its relations with the UAE, and expressed a desire to further cement ties with the UAE, especially in the economic areas.

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