ISLAMABAD: Prime Minister Shehbaz Sharif on Friday praised the United Arab Emirates for what he described as steadfast financial and political support during Islamabad’s recent economic crisis, as both sides signaled plans to deepen bilateral cooperation.

In a statement issued after Sharif spoke with UAE President Sheikh Mohamed bin Zayed Al Nahyan, the Prime Minister’s Office said the two leaders discussed matters of mutual interest and agreed to stay in close contact.

“The Prime Minister lauded the UAE’s consistent and unwavering support to Pakistan, that had helped the country navigate through difficult challenges,” the statement said, adding the two leaders “reaffirmed their shared desire to further enhance mutually beneficial cooperation between Pakistan and the UAE.”

The UAE, along with other friendly nations in the region, provided critical financial assistance to the South Asian country during a balance-of-payments crisis that strained Pakistan’s foreign exchange reserves and pressured its currency. Islamabad subsequently secured an International Monetary Fund program as part of broader stabilization efforts.

Sharif, in a post on X, described the exchange as positive.

“We fondly recalled our recent meetings and reaffirmed our shared resolve to further strengthen the historic, fraternal ties between Pakistan and the United Arab Emirates, and to expand mutually beneficial cooperation,” he wrote.

Millions of Pakistanis live and work in the UAE, forming one of the largest expatriate communities in the Gulf state.

Remittances from the UAE rank among Pakistan’s top sources of foreign currency inflows and play a significant role in supporting the country’s external accounts.

UAE-based companies are also investing in Pakistan, helping Islamabad develop its seaports to facilitate regional trade.