Pakistan and the United Arab Emirates (UAE) on Monday (Nov 27) signed the Memoranda of Understanding (MoUs) in many sectors including energy and food security. According to a post by Pakistan Prime Minister Anwaarul Haq Kakar's office, these MoUs will unlock multi-billion dollars of investment from the UAE into Pakistan and will help realise various initiatives envisioned under the Special Investment Facilitation Council (SIFC).
"Prime Minister termed the signing of MoUs as a historic event that will usher in a new era of Pak-UAE economic partnership," the post said. The signing of the MoUs comes as Pakistan's economy has been reeling under pressure for the last few years, and the country is battling an acute balance of payments crisis and falling foreign exchange reserves.
On Monday, PM Kakar held a bilateral meeting with UAE President Sheikh Mohamed bin Zayed Al Nahyan. "The leaders underlined that Pakistan and the UAE have historic and deep-rooted fraternal ties which have stood the test of time. They reaffirmed the resolve to further strengthen bilateral strategic cooperation and dialogue between Pakistan and the UAE," the PMO post on X added.
During the meeting, regional and global developments were also discussed with particular reference to the deteriorating human rights and humanitarian situation in Palestine.
PM Kakar expressed Islamabad's support for a just and durable solution to the Palestinian question anchored in international law and in line with relevant United Nations and OIC resolutions.
He also reiterated the country's full support for the upcoming COP28 in the UAE, underlining its importance as an opportunity for meaningful progress towards effective and result-oriented global actions in key areas to mitigate climate impact including the establishment of the Loss and Damage Fund.