Pakistan and the United Arab Emirates (UAE) have agreed to enhance bilateral cooperation in trade, investment, energy, and other key sectors, Pakistan’s foreign office said on Friday, as Islamabad seeks to revive its struggling $350 billion economy.
The announcement followed a meeting between Pakistan’s Deputy Prime Minister Ishaq Dar and his Emirati counterpart, Sheikh Abdullah bin Zayed Al-Nahyan, in Abu Dhabi. The two leaders discussed strengthening economic and diplomatic relations between their countries.
“The two leaders explored avenues to enhance bilateral cooperation across key sectors, including trade, investment, energy, defense, and people-to-people connections,” Pakistan’s foreign office said.
Both nations have ramped up economic collaboration in recent years. In January 2024, Pakistan and the UAE signed agreements worth over $3 billion in sectors such as railways, economic zones, and infrastructure.
The UAE is Pakistan’s third-largest trading partner after China and the United States and has invested more than $10 billion in Pakistan over the last two decades, according to the UAE foreign ministry. The Gulf nation also hosts over a million Pakistani expatriates, making it a key source of remittances.
During the meeting, Dar reaffirmed Pakistan’s commitment to deepening its strategic partnership with the UAE and acknowledged the crucial role of the Pakistani diaspora in strengthening ties between the two countries.
“Sheikh Abdullah bin Zayed Al-Nahyan reiterated the UAE’s steadfast commitment to strengthening its strategic relationship with Pakistan,” the foreign office said. “He acknowledged Pakistan’s significant contributions to regional stability and expressed appreciation for the positive role played by the Pakistani community in the UAE’s development.”
The development comes as Pakistan seeks to expand trade and investment ties with Gulf and Central Asian nations while navigating a fragile economic recovery following a near-default in June 2023.
