ISLAMABAD: Pakistani Prime Minister Shehbaz Sharif on Tuesday held a telephone conversation with the president of the United Arab Emirates, Sheikh Mohamed bin Zayed Al Nahyan, in which he welcomed the announcement by the UAE to invest one billion dollars in Pakistani companies.
The Emirates News Agency reported last Friday the UAE’s intention to invest $1 billion in Pakistani companies across various sectors.
Relations between the UAE and Pakistan date back to the UAE’s formation in 1971, and have since evolved into wide-ranging cooperation in various fields. Pakistan was the first country to extend recognition of the United Arab Emirates, while the UAE continues to be a major donor of economic and financial assistance to Pakistan.
In recognition of the UAE’s humanitarian support to Pakistan, multiple institutions, bridges, airports and hospitals in Pakistan are named after the UAE’s founding father and first president, Sheikh Zayed bin Sultan Al Nahyan, such as the Sheikh Zayed Bridge in Swat Valley and Sheikh Zayed Medical Complex in Lahore.
“Highlighting the generous support extended by the UAE to Pakistan over the years, the Prime Minister welcomed the recent announcement by the UAE to invest $ 1 billion in various economic and investment sectors in Pakistan,” Sharif’s office said in a statement.
“During the telephonic conversation, the two leaders ... agreed to work closely to further enhance bilateral cooperation in different fields.”
Sharif also condoled with the UAE president over recent floods in the Emirates in which at least seven Asian expatriates died.