ISLAMABAD: The legal framework required to strengthen bilateral and economic ties between Abu Dhabi and Islamabad will be finalized during the next Joint Ministerial Commission meeting between the two countries, media reports said on Wednesday quoting UAE ambassador to Pakistan, Hamad Obaid Al-Zaabi.
Alzaabi’s comments were part of an address to the Faisalabad Chamber of Commerce and Industry on Tuesday.
“… the UAE Ambassador to the Islamic Republic of Pakistan, meets Chairman and members of the Board of Directors of Textile Manufacturers Association in Faisalabad Punjab and discusses bilateral cooperation, joint work and enhancement of trade partnership,” the UAE Embassy tweeted on Tuesday.
“The United Arab Emirates is a pivotal economic partner of the #Faisalabad city in #Punjab province, which is considered an important industrial center and third largest city of #Pakistan and witnessing great economic, commercial and industrial activity,” excerpts from the tweet said.
Faisalabad is Pakistan’s third-largest metropolis, earning itself the moniker of being the country’s Manchester, for hosting the largest textile industries.
During his visit to Faisalabad, Alzaabi said that plans were in place to open UAE visa centers in Islamabad, Lahore and Karachi to facilitate Pakistani businessmen.
Pakistan and UAE enjoy close bilateral ties. Earlier this month, both countries agreed to set up a joint platform to expedite the resolution of grievances and legal disputes of overseas workers in the emirates.
According to statistics, more than 1.6 million Pakistani expatriates live in the UAE and work in different public and private departments. Additionally, more than $4 billion is remitted annually to Pakistan.
UAE on track to strengthen trade ties with Islamabad, envoy says
UAE on track to strengthen trade ties with Islamabad, envoy says
- Discusses measures during key meeting with businessmen in Faisalabad
- Plans in place to open visa centers across the emirates to facilitate businessmen from Pakistan
Pakistan Navy launches ‘Operation Muhafiz-ul-Bahr’ to safeguard energy shipments
- Petroleum Minister Ali Malik said three oil shipments were due to reach Pakistan this week amid disruptions due to Middle East conflict
- Pakistani military says naval ships are currently escorting two merchant vessels, one of which is scheduled to arrive in Karachi on Monday
ISLAMABAD: Pakistan Navy (PN) has launched ‘Operation Muhafiz-ul-Bahr’ to safeguard national energy shipments, the Pakistani military said on Monday, amid disruptions to critical sea lanes due to the ongoing Middle East crisis.
Global fuel supply chains have been affected by disruptions in the Strait of Hormuz, a strategic waterway between Iran and Oman and a key transit route, that has been blocked by Tehran amid ongoing United States-Israeli strikes on Iran and its counter attacks against several Gulf states.
Oil prices surged more than 25 percent past globally on Monday to $119.50 a barrel, the highest levels since mid-2022, as some major producers cut supplies and fears of prolonged shipping disruptions gripped the market due to the expanding US-Israeli war with Iran.
Pakistan’s Petroleum Minister Ali Pervaiz Malik said that three oil shipments were due to reach Pakistan this week, state media reported, as Islamabad grappled with a potential fuel shortage and the impact of surging oil prices worldwide.
“In view of the evolving regional maritime security environment and potential disruptions to critical sea lanes, Pakistan Navy has launched Operation Muhafiz-ul-Bahr to counter multidimensional threats to national shipping and maritime trade,” the Inter-Services Public Relations (ISPR), the military’s media wing, said in a statement.
“The initiative has been undertaken to ensure the uninterrupted flow of national energy supplies and the security of Sea Lines of Communication (SLOCs).”
The statement came hours after Pakistani authorities said the country has “comfortable levels” of petroleum stocks and the supply chains are functioning smoothly, despite intensifying Middle East conflict.
The navy is conducting escort operations in close coordination with the Pakistan National Shipping Corporation (PNSC), according to the ISPR. It is fully cognizant of the prevailing maritime situation and is actively monitoring and controlling the movement of merchant vessels to ensure their safe and secure transit.
“With approximately 90 percent of Pakistan’s trade conducted via sea, the operation aims to ensure that vital sea routes remain safe, secure, and uninterrupted. Currently, PN ships are escorting 2 x Merchant Vessels, one of which is scheduled to arrive Karachi today,” the ISPR said on Monday.
“Pakistan Navy remains fully prepared to respond emerging maritime security challenges and is committed to ensuring the safety of national shipping and regional maritime security.”
