With all eyes on economic cooperation, high-powered UAE delegation due in Pakistan today

• UAE delegation to visit Pakistan to explore opportunities on economic front.
• A number of proposals will be discussed and explored during this visit, official says.
• PM Shehbaz requested UAE's senior officials to explore opportunities in Pakistan.

ISLAMABAD: A high-powered United Arab Emirates (UAE) delegation is due in Pakistan today to explore opportunities on the economic front after Islamabad sought a multibillion-dollar investment from Abu Dhabi, The News reported Tuesday.

Prime Minister Shehbaz Sharif, on his return from Saudi Arabia, had stopped in the UAE last week to hold a meeting with President Sheikh Khalifa Bin Zayed Al Nahyan and other top officials. 

In the meeting, the premier requested the emirates senior officials to explore investment opportunities in Pakistan. The UAE has already rolled over its deposits of $2 billion lying with the State Bank of Pakistan (SBP).

“A high-level delegation of the UAE is coming to Pakistan to meet their counterparts on Prime Minister Shehbaz Sharif’s request to the ruler of UAE. A number of proposals will be discussed and explored during this visit,” a top Pakistani official told The News in background discussions on Monday.

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Federal Minister for Finance Miftah Ismail confirmed that the UAE delegation was coming to Pakistan to explore investment opportunities. He made it clear that the visit was not meant to seek any further aid package from the UAE.

During their visit, the UAE’s economic experts would also meet PM Shehbaz Sharif in Lahore today. The delegation will also interact with the government’s economic team and deliberate on ways to accelerate the economic activities between the two countries.

The prime minister will also host a dinner reception for the delegation, which will be held to discuss the promotion of economic and trade relations as well as investment.

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The members of the delegation will be apprised of a conducive atmosphere for investment in Pakistan. The discussion on cooperation in the fields of energy, economy, and petroleum industry is also on the agenda.