Pakistan and the United Arab Emirates (UAE) have signed multi-billion-dollar memorandums of understanding (MoUs) across diverse sectors to boost economic, regional, and strategic cooperation, Caretaker Prime Minister Anwaar-ul-Haq Kakar said on November 27 in a televised statement from Abu Dhabi.
“Today in Abu Dhabi, multi-billion-dollar MoUs were signed between Pakistan and the UAE, spanning various sectors,” said Kakar, who is visiting the Gulf nation. “This marks a new era of economic cooperation, regional stability, and strategic collaboration between Pakistan and the UAE.”
PM Kakar arrived in UAE on Sunday on a bilateral visit. The visit, set to last until November 28, focuses on signing numerous investment and cooperation agreements, according to the Pakistan foreign office. He will subsequently proceed to Kuwait for a two-day visit, concluding on Nov. 30.
The MoUs were signed after a meeting between the Pakistani prime minister and the UAE President Sheikh Mohamed bin Zayed Al-Nahyan in Abu Dhabi. “These tangible projects will have a significantly positive economic impact on the Pakistani economy in the days to come,” Kakar said.
The two leaders reiterated their commitment to enhancing bilateral strategic cooperation and fostering ongoing dialogue between Pakistan and the UAE.
“During the meeting, regional and global developments were also discussed with particular reference to the deteriorating human rights and humanitarian situation in occupied Palestine,” PM Kakar’s office said. “The Prime Minister expressed Pakistan’s support to a just and durable solution of the Palestinian question anchored in international law and in line with relevant United Nations and OIC resolutions.”
MoUs signed
Following the meeting, the two leaders witnessed the signing of the MoUs between Pakistan and the UAE, relating to energy, port operations projects, wastewater treatment, food security, logistics, minerals, and banking and financial services sectors.
“These MoUs will unlock multi-billion dollars of investment from the United Arab Emirates into Pakistan and will help realize various initiatives envisioned under [Pakistan’s] Special Investment Facilitation Council,” the statement said.
The UAE is home to around 1.8 million Pakistani expatriates and ranks as the second-largest contributor of remittances to Pakistan, following Saudi Arabia, supporting the nation’s economy with a population of over 240 million.
PM’s visit to Middle East
After UAE, the PM is scheduled to visit Kuwait before returning to the UAE to attend the 2023 United Nations Climate Change Conference (COP28) in Dubai on December 1-2.
During his visit to Kuwait, PM Kakar will meet Crown Prince Sheikh Meshal Al-Jaber Al-Sabah and Prime Minister Sheikh Ahmed Nawaf Al-Ahmed Al-Sabah and sign various MoUs, the Pakistani foreign office said in a statement.
“The visit will include the signing of various MoUs in the field of Manpower, Information Technology, Mineral exploration and Food Security, Energy and Defense,” the statement read.
PM Kakar will attend COP28
PM Kakar will then attend the 2023 United Nations Climate Change Conference (COP28) in Dubai on December 1-2.
“Prime Minister Kakar’s program in Dubai includes participation in high-level events at the summit and bilateral meetings with counterparts from participating countries,” Mumtaz Zahra Baloch, a Pakistani foreign office spokeswoman told Arab News. “He will underline the centrality in the climate change debate of the established principles of equity and common but differentiated responsibilities,” she said.
At COP28, Baloch said Pakistan would work with other developing countries to operationalize the loss and damage fund for all climate-vulnerable developing countries. Additionally, Pakistan seeks a meaningful outcome from the first Global Stocktake (GST), a two-year process occurring every five years. This effort aims to coordinate climate action and address gaps in progress.
“Pakistan will also reiterate its call for the developed countries to urgently and fully deliver on the long overdue goal of mobilizing $100 billion per year as climate finance for developing countries,” Baloch added.