ISLAMABAD: A delegation from the United Arab Emirates, led by the chairman of an Abu Dhabi-based biotechnology firm, called on Prime Minister Shehbaz Sharif in his office and expressed “keen interest” to invest in Pakistan’s pharmaceutical sector, said an official statement on Friday.
The UAE and Pakistan have close fraternal relations and enjoy bilateral cooperation in a range of fields.
The Gulf country is Pakistan’s third-largest trade partner after China and the United States and is also home to more than 1.6 million Pakistani nationals.
“His Highness Sheikh Ahmed Dalmook al Maktoum, the chairman of Hayat Bio-Tech and a member of the ruling family of the UAE, along with a delegation, called on Prime Minister Muhammad Shehbaz Sharif in Islamabad today,” said the statement.
Sharif welcomed the delegation and said that Pakistan attributed great significance to its relations with the UAE in diverse fields, including trade and investment.
“The prime minister welcomed the keen interest of Hayat Bio-Tech to invest in Pakistan’s pharmaceutical sector, especially in vaccine manufacturing,” said the statement, adding that the PM also invited the visiting delegation to invest in renewable energy while assuring them that foreign investors would get all possible facilitation.
Sheikh al Maktoum said his country was aware of Pakistan’s huge investment potential and was looking forward to further expanding its footprint in the energy and health sectors.
The visiting dignitary added the UAE wanted to further increase its investment portfolio in Pakistan while briefing the prime minister about his country’s ongoing 1,200-megawatt solar and wind energy project which it is undertaking in collaboration with the provincial administration of Sindh.
Aside from investing in Pakistan, the UAE has also assisted the country financially by depositing money in the State Bank.
Earlier this week, the top UAE diplomat in Pakistan, Hamad Obaid Ibrahim Salim Al-Zaabi, also held a meeting with the country’s finance minister, Muhammad Ishaq Dar, as the International Monetary Fund (IMF) pushed the South Asian nation to get external financing commitments from friendly nations before releasing its bailout funds.
UAE-based biotechnology firm expresses ‘keen interest’ in Pakistan’s pharmaceutical sector
https://arab.news/9v549
UAE-based biotechnology firm expresses ‘keen interest’ in Pakistan’s pharmaceutical sector
- Chairman of Abu Dhabi-based Hayat Bio-Tech calls on Prime Minister Shehbaz Sharif in the federal capital
- Sharif reiterates his country’s desire to expand its relations with the United Arab Emirates in diverse fields
Pakistan’s deputy PM discusses ways to boost economic, trade ties with Iran
- Both countries agreed in August to increase bilateral trade to $10 billion by 2028
- Pakistan and Iran have been working to stabilize relations after strained security ties
ISLAMABAD: Pakistan’s Deputy Prime Minister Ishaq Dar presided over a meeting to discuss economic and trade cooperation with Iran, the foreign office said on Friday, as the neighboring countries seek to expand ties.
The development took place during an inter-ministerial meeting on Pakistan-Iran bilateral relations chaired by Dar in Islamabad. Pakistan and Iran have been working to stabilize ties following a period of strained security relations.
Both countries have been working to enhance bilateral trade, setting up border markets and exploring barter trade to circumvent banking and currency restrictions. Sanctions and foreign exchange shortages remain key hurdles for Iran, making these alternative systems central to its trade strategy with Pakistan.
“The meeting reviewed ongoing cooperation across a range of sectors and discussed ways to further enhance economic and trade ties,” the foreign office said in a statement.
“The DPM/FM reaffirmed Pakistan’s commitment to deepening engagement with Iran in key priority areas.”
In December, the foreign ministers of Iran and Pakistan vowed to strengthen bilateral cooperation in trade and connectivity while working for regional peace.
Iranian President Dr. Masoud Pezeshkian also visited Pakistan in August, during which both countries signed agreements to increase bilateral trade to $10 billion by 2028.
