Islamabad, Federal Minister for Planning Development & Special Initiatives Prof. Ahsan Iqbal and Minister for Economy of United Arab Emirates Mr. Abdulla bin Touq Al Marri on Wednesday agreed to expand economic ties in key areas.
Minister for Planning Prof. Ahsan Iqbal met with Minister for Economy of United Arab Emirates Mr. Abdulla bin Touq Al Marri on the side lines of World Government Summit where he is representing Pakistan. He was also accompanied by Minister of State for Petroleum, Mr. Musadik Málik.
Minister for Planning & Development Prof. Ahsan Iqbal noted the historic brotherly ties between Pakistan and UAE and thanked the Government of UAE for standing by the people of Pakistan in every hour of need ranging from natural disasters to economic crises.
Minister for Planning Ahsan Iqbal emphasised the need for expanding the trade relations between both countries and identified key areas such as tech sector, energy and agricultural produce where vast potential for mutual collaboration exist.
Minister Iqbal also invited UAE to invest in Pakistan to expand industrial capacity through Pak-China investment fund being established, upgradation of existing and setting up new refineries, in minerals sector and the TAPI pipeline.
UAE Minister for Economy Mr. Abdulla bin Touq Al Marri welcomed the suggestions and showed keen interest in the areas identified. He invited Pakistan to sign a ‘Comprehensive Economic Partnership Agreement’ (CEPA) with the UAE to help enhance the trade relations between both countries.
Planning Minister Ahsan Iqbal thanked UAE’s Minister for Economy Al Marri for the offer and also for organizing the World Government Summit that has helped identify areas of convergence between countries and find ways to overcome economic and governance challenges.
UAE is one of Pakistan’s key economic partners, and expansion of trade and investment ties bodes will for the business communities and the people in both countries.