Pakistan and the United Arab Emirates (UAE) have signed several multi-billion dollar Memorandum of Understanding (MoUs) in a range of areas on Monday to boost economic and strategic cooperation between the two brotherly nations. The historic bilateral cooperation agreements were signed during a prestigious ceremony in Abu Dhabi that was also graced by the Caretaker Prime Minister Anwaar-ul-Haq Kakar and the UAE President, Sheikh Mohamed bin Zayed Al Nahyan, while Chief of Army Staff General Syed Asim Munir, NI (M) was also present on the occasion.
Pakistan and the United Arab Emirates are two brotherly Muslim countries that have enjoyed cordial bilateral relations and fraternal ties throughout the past years. The foundation of the Pak-UAE friendship and brotherhood was laid down by Sheikh Zayed bin Sultan Al Nahyan in the 1970s. It has been taken forward by his son and the UAE President, Sheikh Mohammed bin Zayed Al Nahyan to a new era. Pakistan and the United Arab Emirates (UAE) share strong bilateral ties across various domains, including trade, economy, defence, and cultural exchange. The UAE is the second largest destination for the Pakistani workforce and is currently home to 1.8 million Pakistanis, which is playing an important role in the progress, prosperity and economic development of the United Arab Emirates along with consolidating the bilateral bonds between the two brotherly nations. Historically, the UAE has been a crucial source of investment for Pakistan, particularly in sectors like real estate, energy, and infrastructure. Both nations have collaborated on several projects and initiatives aimed at fostering economic development and enhancing bilateral trade. Over the decades, the historic and deep-rooted fraternal relationship between Pakistan and the UAE has grown manyfolds and stood the test of time, while Diplomatic interactions and high-level visits of the leadership from both nations have further augmented their relationship and boosted their bilateral cooperation emphasizing each other support on regional and global issues relating to their nations and broader Muslim Ummah.
Historically, the UAE has always stood beside Pakistan during hours of need including natural calamities, earthquakes, and superfloods together with economic challenges and fiscal depletions in the past years. The brotherly Arab nation has provided crucial support to Pakistan at the Financial Action Task Force (FATF) in countering hostile propaganda and getting out of the notorious grey list of the international anti-money laundering watchdog. The UAE government extended generous financial support of $1 billion to help avert Islamabad’s worst financial crisis and a looming economic collapse last year.
Presently, the government of Pakistan and newly formed the Special Investment Facilitation Council (SIFC) are making concerted efforts to bring foreign investment into the country to help revive economic activity and move the wheel of the industry. Under the recently launched initiative, Pakistan and the UAE signed various memorandums of Understanding (MoU) on investment cooperation in multiple sectors including energy, port operations, wastewater treatment, food security, logistics, minerals, and banking and financial services. The current investment by the UAE government is not meant for profit but to assist the brother Muslim nation in resolving its financial glitches and help attain long-held economic goals to achieve sustainable development and economic stability. That must be acknowledged and appreciated by the Pakistani nation. Hopefully, the magnificent endeavour will unlock multi-billion dollars of investment from the United Arab Emirates into the country and will help realize various initiatives to envision the dream of a stable and prosperous Pakistan.