As per UAE media reports, the Emirates has allocated Pakistan-UAE Economic Ties $10 billion for Pakistan in investments.
Pakistan-UAE Economic Ties
This statement came, according to emirate media, during a meeting between State leader Shahbaz Sharif and Emirati President Sheik Mohammed Container Zayed Al Nahyan during his visit to the Unified Arab Emirates.
Pakistan-UAE Economic Ties and Technological Advancement
Prime Minister Shabaz said that the United Arab Emirates has made extraordinary progress in data innovation under Sheik Mohammed Container Zayed’s authority. Therefore, he addressed a roundtable conference attended by Pakistani and Emirati IT companies. He praised the UAE’s position as a world leader in the information technology and artificial intelligence sectors and its modern IT infrastructure.
Bilateral Cooperation and Skill Exchange
The Prime Minister also highlighted that both countries have skilled IT professionals who contribute across various digitalization fields. He added that 60% of Pakistan’s population is below 30 years old, which provides them with a large youthful workforce.
Promotion of the IT Sector
Prime Minister Shahbaz Sharif was very interested in its sector; therefore, during this time, he stressed its importance again. According to him, agriculture and mining industries can empower youth to increase revenue generation capacity within the industrial sector growth; hence, more investments, especially in these areas, coupled with the latest technology adoption.
Towards A Digital Economy
Shabaz Sharif advocated for a shift towards a digital economy, where young people should be trained so that they can work across all sectors without necessarily relying on traditional oil and gas revenues alone.
Appreciation For Uae Vision
He appreciated Sheikh Mohammed bin Zayed’s vision, saying that through such initiatives, UAE will be able to transform its economy from an oil-based one into a value-added manufacturing economy, which shows how important the country is within the region.
Pledge For Economic Transformation
Prime Minister Shabaz said he is willing to work with his UAE counterparts to transform Pakistan’s economy into one of the most developed economies worldwide. He also expressed hope about joint ventures and knowledge sharing among different sectors between the two countries, which will facilitate this process further.
Enabling Environment for Joint Ventures
He pledged to provide an enabling environment for joint ventures and knowledge-sharing partnerships that tap into the potential of the UAE’s presence in Pakistan and contribute to economic revival across the board.
$10 billion signals a major step towards enhancing economic relations between Pakistan and the UAE while spurring collaboration as well as innovation in various fields.
