UAE, Pakistan agree to expand economic ties in key sectors

ISLAMABAD – Federal Minister for Program Development and Special Initiatives Prof Ahsan Iqbal and United Arab Emirates Economy Minister Abdulla bin Touq Al Marri agreed on Wednesday to expand economic ties in key sectors.

Planning Minister Ahsan Iqbal met United Arab Emirates Economy Minister Abdullah bin Touk Al Mali on the sidelines of the World Government Summit on behalf of Pakistan in Dubai. He was accompanied by Minister of State for Petroleum Musadik Málik, said a press release published here. Ahsan Iqbal noted the historic brotherhood between Pakistan and the UAE and thanked the UAE government for supporting the people of Pakistan in every moment from natural disasters to economic crisis.

Planning Minister Ahsan Iqbal stressed the need to expand the trade relationship between the two countries and identified key areas such as the technology sector, energy and agricultural products where there is great potential for mutual cooperation. Minister Iqbal also invited the UAE to invest in Pakistan to expand industrial capacity through the China-Pakistan Investment Fund being established, upgrading existing and building new refineries, mining sector and TAPI pipeline. Abdulla bin Touq Al Marri, UAE Minister of Economy, welcomed the proposals and expressed keen interest in the areas identified. He invited Pakistan to sign the Comprehensive Economic Partnership Agreement (CEPA) with the UAE to help strengthen trade ties between the two countries.