ISLAMABAD: A high-level delegation from the United Arab Emirates (UAE) met with Pakistan’s Deputy Prime Minister Ishaq Dar on Tuesday to discuss potential investments in Pakistan’s maritime, railways, and aviation sectors. The visit comes as Pakistan intensifies efforts to attract foreign investments to stabilize its struggling $350 billion economy.
The meeting with the UAE delegation, led by Sheikh Ahmed Dalmook Al-Maktoum, highlights the ongoing cooperation between the two nations. The discussions focused on exploring investment opportunities that could provide much-needed economic relief to Pakistan, which has been grappling with low foreign exchange reserves, currency devaluation, and soaring inflation over the past year.
Pakistan has been actively seeking foreign investments since narrowly avoiding a financial default last year. In a bid to revive its fragile economy, the country secured a $7 billion loan agreement with the International Monetary Fund (IMF) in July.
The UAE, one of Pakistan’s closest allies, has a history of providing financial support to the South Asian nation. Along with Saudi Arabia and China, the UAE has played a crucial role in rolling over billions of dollars in loans to support Pakistan’s economy.
In May, UAE President Sheikh Mohamed bin Zayed Al-Nahyan announced a $10 billion investment in Pakistan during a visit by Prime Minister Shehbaz Sharif to the Gulf country. Additionally, Pakistan signed an agreement with the Abu Dhabi Ports Group earlier this year for a $395 million investment to develop a container and cargo terminal, further solidifying the economic ties between the two nations.
The UAE delegation’s visit underscores the continued interest in deepening economic cooperation and the potential for significant investments in key infrastructure sectors in Pakistan.
