-FM highlights immense investment potential Pakistan offers to UAE
-Apprises UAE Minister of State about gross human rights violations in IoK
Middle East Desk
Report
ABU DHABI: Pakistan and United Arab Emrites (UAE) on Tuesday have agreed to exchange business delegations to promote bilateral trade and economic cooperation in different fields, according to a statement issued by the Foreign Office (FO).
The agreement was reached in a meeting between Foreign Minister Shah Mahmood Qureshi and the UAE Minister of State Ahmed Ali Al Sayegh in Abu Dhabi.
During the talks, they discussed greater cooperation in areas of economy and trade.
Shah Mahmood Qureshi highlighted the immense investment potential Pakistan offers to the UAE, which can be best explored through business to business connect between the two countries.
Foreign Minister also apprised the UAE Minister of State about gross human rights violations in Indian Illegally Occupied Jammu and Kashmir, Afghan Peace Process and overall security situation in the region.
Moreover, FM Qureshi, in a separate meeting with his UAE counterpart Sheikh Abdullah bin Zayed Al Nahyan, underscored the need to “remove impediments that hamper travel between the two countries”.
“He emphasised the need for nurturing and strengthening people-to-people linkages, as well as removing impediments that hamper travel between the two countries,” the FO statement said.
Furthermore, UAE has extended the repayment of a $2 billion deposit given to Pakistan by the Abu Dhabi Fund for Development (ADFD) in January 2019 to boost liquidity and help overcome the financial crisis.
Islamabad was scheduled to repay $2 billion funds to ADFD by April 19, 2021.
This was announced on Tuesday following a meeting between Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, Foreign Minister Shah Mahmood Qureshi, which took place late on Monday. A total of $3 billion lifeline was deposited by the UAE with the State Bank of Pakistan in January 2019 to help fill the current account deficit gap.
