UAE plans to invest $1B in Pakistani firms

• The UAE and Pakistan have discussed ways to expand bilateral economic ties.
• UAE plans to spend $1 billion in Pakistani businesses across a range of sectors.
• The visit follows Prime Minister Shehbaz Sharif’s address to the UAE’s leadership last month.

According to the UAE’s official news agency, the UAE plans to spend $1 billion in Pakistani companies across a range of economic and investment sectors.

The action seeks to expand bilateral economic relationships in the best interests of the two countries by looking into new investment opportunities and areas of cooperation in projects across multiple sectors, according to the agency.

According to the news agency, which cited an unnamed official source in Abu Dhabi, the UAE and Pakistan are eager to continue their cooperation in a number of areas, including gas, energy infrastructure, renewable energy, health care, biotechnology, agricultural technology, logistics, digital communications, e-commerce, and financial services.

General Qamar Javed Bajwa, the Chief of Army Staff, spoke with UAE authorities on Friday.

According to reports, topics related to Pakistan’s agreement with the International Monetary Fund (IMF) were discussed.

The UAE’s leadership was addressed by Prime Minister Shehbaz Sharif last month, who urged strengthening political and economic cooperation.

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