Pakistan, UAE agree to expand economic ties in key areas

Islamabad: Pakistan and the United Arab Emirates have agreed to expand economic ties in key areas.

The understanding was reached during a meeting between Minister for Planning and Development Ahsan Iqbal and the UAE Minister for Economy Abdulla bin Touq Al Marri, on the sidelines of the World Government Summit in Dubai.

During the meeting, Ahsan Iqbal emphasised the need for expanding trade relations between the two countries and identified key areas such as the tech sector, energy and agricultural produce where vast potential for mutual collaboration exist.

He also invited the UAE to invest in Pakistan to expand industrial capacity through the Pak-China investment fund being established, upgradation of existing and setting up new refineries in minerals sector and the TAPI pipeline.

The UAE Minister for Economy welcomed the suggestions and showed keen interest in the areas identified.

He invited Pakistan to sign a ‘Comprehensive Economic Partnership Agreement’ with the UAE to enhance trade relations between both countries.