PM Shehbaz reaches UAE to hold investment talks
Pakistan
Meeting with President Mohammed bin Zayed Al Nahyan is scheduled
- Talks will be held with other government officials and businessmen as well
- An interaction involving investors associated with IT is part of the itinerary
ISLAMABAD (Dunya News/Web Desk) – Prime Minister Shehbaz Sharif will hold talks with UAE President Mohammed bin Zayed Al Nahyan, as he left Islamabad for his first visit to the oil-rich Gulf State after assuming the office earlier this year in February.
He reached the UAE and was accorded a warm welcome.
Shehbaz, during his meeting with Al Nahyan, will focus on finding ways and means to further boost the existing cooperation in different fields between the two nations.
His entourage also includes Deputy Prime Minister Ishaq Dar, Defence Minister Khawaja Asif, Commerce Minister Jam Kamal, Information Minister Attaullah Tarar and Tariq Fatemi – who is a special assistant to the prime minister.
The itinerary of the daylong visit also includes an interaction with prominent Pakistani and Emirati businessmen and investors associated with information technology (IT), where he will also speak to the gathering.
Meanwhile, Shehbaz is also scheduled to hold meetings with other top UAE government officials and businessmen, at a time Pakistan is desperate for foreign investment in various sectors, especially IT and clean energy.
Also, the visit is being hailed as beginning of a new era for the Pakistan-UAE ties and shows the breakthrough being made under the current government on diplomatic front and in connection with attracting much-needed foreign investment.
The development comes as the UAE is witnessing an impressive economic growth rate and has been expanding its clout around the world by investing in a wide range of sectors around the globe.
Read more: Dubai DXB airport sees record 2024 traffic, IMF upgrades UAE growth projection
Dubai's main airport expects to handle a record passenger traffic this year after an 8.4 per cent rise in the first quarter compared with a year earlier and is now expecting 91 million guests, surpassing the previous annual traffic record of 89.1 million in 2018.
It is reflected by the fact that the International Monetary Fund (IMF) said on Monday that the UAE was experiencing strong economic growth, with overall real GDP projected to grow by about 4pc this year, higher than earlier estimates.
Read more: Economic diversification: UAE and US to see more AI partnerships
On the other hand, State Minister for AI Omar Sultan Al Olama told Reuters on Tuesday that the UAE and the United States will invest more in artificial intelligence as part of a strategic partnership.
The UAE, led by government-backed firm G42, is striving to become a global leader in AI, invested heavily in it to help the Gulf nation diversify away from oil.
