Monday, 04 March 2024, 03:47:50 am

Former Ambassadors hail PM Kakar’s visit to UAE, term it successful
November 28, 2023

A.M. Shahid (Former Ambassador): UAE is an old friend of Pakistan and over 1.6 million Pakistanis have been living in UAE and contributing to our country's economy through remittances. The visit of the Prime Minister was held at a time when the country was facing severe economic challenges. Certain MoUs related to Information Technology, Mining, food security, defense and others are signed among the leadership of both the countries. The PM in his meeting with the UAE leadership discussed issues related to regional and international perspective. The main focus of the visit was to increase the trade volume and investment in our country. UAE has huge foreign reserves and can support Pakistan in its economic revival to a great extent through investment. The Caretaker Prime Minister will also attend the COP-28 summit which is very important. In COP-27, the Loss and Damage Fund was established to compensate the developing countries but unfortunately the funds were not provided. So COP-28 summit will be a reminder for the developed countries to compensate the developing countries as these countries have been paying the price of industrialization of the developed countries in term of the climate change.

Waheed Ahmed (Former Ambassador): The visit of the Caretaker Prime Minister to UAE can be viewed in three perspectives including renewal of political relations, strengthening economic relations and developing a mutual consensus among the Muslim world keeping in view the recent Israel-Palestine conflict. UAE is willing to invest in Pakistan in a number of development projects through the Special Investment Facilitation Council and it will definitely boost the economy of the country as certain job opportunities will be generated. The positive trend in Pakistan Stock Market is the result of the government's efforts to bring foreign investment in the country.