(Web Desk) – Pakistan and the United Arab Emirates (UAE) have signed investment agreement worth over $3 billion for cooperation in railways, economic zones and infrastructure development.
The pact was signed between the governments of Pakistan and a UAE-based company on the sidelines of the World Economic Forum in Davos, Switzerland.
Federal Minister for Communication, Railways and Maritime Affairs, Shahid Ashraf Tarar while Sultan Ahmed bin Sulayem, Chairman of Ports, Customs and Free Zone Corporation of Dubai signed the document on behalf of their respective governments while the ceremony was witnessed by caretaker Prime Minister Anwaarul Haq Kakar.
Speaking on the occasion, Shahid Ashraf Tarar said the UAE-based DP World has long standing proud presence in Pakistan.
He said building on the unwavering trust and partnership, the two brotherly countries have decided to further consolidate the economic cooperation through landmark projects.
In his remarks, Sultan Ahmed bin Sulayem Pakistan is a growing market, and an important trade corridor to Central Asia.