Pakistan
UAE extends repayment of $2 billion loan given to Pakistan
Abu Dhabi: The United Arab Emirates (UAE) has extended the repayment of a $2 billion deposit given to Pakistan by the Abu Dhabi Fund for Development (ADFD) in January 2019.
The development came during a meeting between Foreign Minister Shah Mehmood Qureshi with his UAE counterpart Sheikh Abdullah bin Zayed Al Nahyan in Abu Dhabi.
“FM Qureshi lauded UAE’s consistent support to Pakistan and welcomed the announcement of rolling back payment of $ 2 billion, which symbolizes the depth and strength of bilateral ties,” said the Ministry of Foreign Affairs in a statement.
The statement released by foreign ministry read that Qureshi appreciated the UAE’s progress and development over the last five decades. He attributed this achievement to the sagacious and visionary leadership of the nation. Foreign Minister Abdullah thanked him and acknowledged the valuable role played by Pakistani Diaspora in the UAE’s growth and prosperity.
The Foreign Ministers reaffirmed their mutual desire to further strengthen cordial relations between the two countries. They reviewed the entire gamut of bilateral relations, discussing ways to enhance cooperation in diverse areas including trade, investment, infrastructure, energy, technology, tourism and manpower. Foreign Minister Qureshi outlined his plans for showcasing the history as well as the future potential of Pakistan-UAE cooperation at EXPO 2020 Dubai in October 2021.
The Foreign Ministers also discussed ways to provide fresh impetus to existing Pakistan – UAE ties. In this regard, they agreed to facilitate Ministerial level visits from both sides.
Foreign Minister Qureshi lauded the positive contribution of Pakistani Diaspora in the UAE towards the development and progress of both countries. He emphasized the need for nurturing and strengthening people-to-people linkages, as well as removing impediments that hamper travel between the two countries.
Foreign Minister Qureshi thanked the UAE for its continued support and cooperation bilaterally, as well as at the international fora. Pronouncing the UAE’s decision to roll-over the USD 2 billion deposit by the Abu Dhabi Fund, Foreign Minister Abdullah affirmed the UAE’s commitment to extend every possible support to Pakistan. Foreign Minister Qureshi thanked his counterpart, underscoring that the decision reflected the warm and brotherly ties between the two countries.
The Foreign Ministers also exchanged views on regional and global issues of mutual interest. Foreign Minister Qureshi briefed his counterpart on the grave human rights situation in the Indian Illegally Occupied Jammu and Kashmir and Pakistan’s consistent efforts to support the ongoing peace and reconciliation process in Afghanistan.
Expressing sincere appreciation for UAE’s warm hospitality, Foreign Minister Qureshi reiterated his invitation to Foreign Minister Abdullah to visit Pakistan at the earliest opportunity. Foreign Minister Abdullah graciously accepted the invitation.
Upon conclusion of his trip three-day official visit, FM has left for Iran.
Pakistan and the UAE enjoy close fraternal ties for almost five decades that are rooted firmly in common belief and shared values and culture. The relationship is marked by high-level visits and interactions that provide continuous momentum to bilateral cooperation. This was Foreign Minister’s second visit to the UAE in the past five months.