ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday called on Pakistan and the UAE to enhance their trade, economic and investment relations, inviting investment from the Gulf country in Pakistan’s priority sectors. 

The UAE is Pakistan’s third-largest trading partner and a major source of foreign investment for the South Asian country. In May 2024, the UAE committed to investing $10 billion in Pakistan’s economic sectors in the coming years.

Sharif met UAE Ambassador Salem Mohammed Salem Al Bawab Al Zaabi at the Prime Minister House on Tuesday where the two sides discussed bilateral relations and economic ties, the Prime Minister’s Office (PMO) said. 

“Expressing his satisfaction at the volume of bilateral trade between the two sides, the Prime Minister further highlighted the need for both sides to focus on enhancing economic ties, trade, investment opportunities, and collaboration in areas such as energy, minerals, IT, railways and aviation,” the statement said. 

Sharif also invited increased UAE investments in key sectors to support Pakistan’s economic growth and stability, the PMO said.

The Pakistani prime minister acknowledged the UAE’s consistent support for Pakistan “in times of need,” acknowledging the country’s humanitarian assistance and developmental projects.

Al Zaabi thanked the Pakistani premier for extending him a warm welcome, the PMO said. 

“He reaffirmed the UAE’s firm resolve and keen interest to deepen its partnership with Pakistan across all spheres and assured the Prime Minister that he would work hard to explore new avenues for cooperation that would benefit both nations,” the statement concluded.