UAE delegation arrives in Pakistan to explore investments

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Islamabad | Published: October 27, 2018 3:15:24 AM

The delegation is headed by Dr Sultan Aljaber, Minister of State and CEO of Abu Dhabi National Oil Company (ADNOC), the Foreign Office (FO) said.

UAE delegation arrives in Pakistan to explore investments

A high-level delegation of the UAE arrived in Pakistan on Friday to explore investment opportunities in the cash-strapped country. The delegation is headed by Dr Sultan Aljaber, Minister of State and CEO of Abu Dhabi National Oil Company (ADNOC), the Foreign Office (FO) said. It comprises CEOs and senior officials of major companies including Mobadla Petroleum, ADIA (Sovereign Wealth Funds), Etisalat, DP World, Dubai Investment Authority, Emaar Company, Aldahra Agriculture and Abu Dhabi Fund for Development.

The visit follows Prime Minister Imran Khan’s official visit to Abu Dhabi in September and his understanding with Crown Prince Muhammad Bin Zayed Al Nahyan “to forge closer economic, trade and investment relations between the two countries in all areas of common interest”, the FO said.

Pakistan hoped that the UAE will also announce an assistance package like Saudi Arabia and investment in various projects, officials sources said. The delegation met foreign minister Shah Mehmood Qureshi who said that the visit will increase the UAE’s footprint in a number of sectors in Pakistan.

Qureshi told media that he discussed about Pakistan’s requirement of “oil on deferred payment” on the pattern of recent agreement with Saudi Arabia. “We want to benefit from the experience of the UAE in water desalination as they have immense experience in this sector,” said the minister.

The Prime Minister’s Office said the delegation called on Khan who said the composition and important membership of this delegation reflected the UAE’s seriousness about strengthening the historic relations with Pakistan. “The delegation conveys clear directions of Mohamed bin Zayed to elevate the UAE-Pakistan relationship to a long term strategic comprehensive economic partnership,” the PMO said.

Minister of State Dr Al Jaber conveyed the UAE’s desire to elevate the relationship to a long term strategic economic partnership.

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