HomeNewsIn a joint statement, Pakistan and the UAE promise to strengthen their...

In a joint statement, Pakistan and the UAE promise to strengthen their “strategic partnership.”

The top representatives of the UAE meet with PM Shehbaz. The development of bilateral ties was the main topic of conversation. UAE has announced financial support for Pakistan in the amount of $3 billion.

During a bilateral meeting, Pakistan and the United Arab Emirates (UAE) agreed that there was a need to strengthen their “strategic partnership and cooperation,” according to a joint statement released by the Foreign Office (FO) on Friday.

The statement was made following the conclusion of Prime Minister Shehbaz Sharif’s two-day official visit to the Gulf nation, during which he met with UAE President Mohamed bin Zayed Al Nahyan and held in-depth discussions on specific steps to strengthen the bilateral relationship.

In order to support Pakistan as its foreign exchange reserves are being depleted, the UAE also gave the nation a $3 billion lifeline on Thursday.

The two sides agreed to intensify consultation and coordination during the meeting in order to strengthen their strategic partnership and cooperation, particularly in the area of information and communication technologies, and to collaborate on closing the digital divide in order to develop tangible and meaningful bilateral cooperation in key areas.

Additionally, the two leaders discussed regional political and security issues, according to the statement.

The statement added that the two parties “discussed a specific initiative to enhance cooperation in political, defence, economic, commercial, and cultural areas, developing joint ventures, and strengthening collaboration in the human resource sector.”

The UAE president’s generous assistance during the recent floods in Pakistan, especially through an air bridge set up for this purpose, was thanked by the prime minister of Pakistan.

Both leaders of the UAE and PM Shehbaz reaffirmed their historical and kinship ties, which are based on a common religion, culture, and set of values as well as a desire for both regional and global peace and security. The agreement of opinion on a variety of local and international issues was also met with satisfaction.

Both nations expressed solidarity with one another in efforts to preserve their sovereignty and territorial integrity based on their decades-old fraternal ties, according to the statement.

In addition, the two parties signed Memoranda of Understanding regarding the fight against human trafficking, information sharing, and cooperation between the diplomatic academies of both nations.

President Nahyan agreed to visit Pakistan later after accepting PM Shehbaz’s invitation.

The prime minister had made three trips to the UAE since taking office. A significant portion of the cabinet is among the high-level delegation that is travelling with him.

Loan to Pakistan

A day earlier, the president of the UAE consented to give Pakistan an additional $1 billion loan in addition to rolling over the $2 billion existing loan.

As the ninth review of the International Monetary Fund (IMF) programme to approve the release of the next $1.1 billion tranche of funds has been pending since September, the much-needed relief was crucial for cash-strapped Pakistan’s distressed economy.

Pakistan’s central bank’s foreign exchange reserves have dropped to a dangerous level of below $5 billion, signalling a severe economic crisis.

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