ISLAMABAD: United Arab Emirates President Sheikh Mohamed bin Zayed Al Nahyan is scheduled to arrive in Pakistan on Friday for an official visit focused on bilateral relations and regional security, the Pakistan foreign office announced on Wednesday.
The visit comes at the invitation of Pakistan Prime Minister Shehbaz Sharif.
Sheikh Mohamed bin Zayed will be accompanied by a high-level delegation comprising ministers and senior officials.
Since its formation in December 1971, Pakistan-UAE relations have grown across political, economic, and social spheres, evolving into a “trustworthy strategic partnership” based on mutual trust, according to the UAE foreign office.
The UAE and Pakistan share strong economic ties, with approximately 1.8 million Pakistani expatriates working in the UAE. These expatriates contributed $5.5 billion in remittances in the current fiscal year, significantly supporting Pakistan’s macro-economy, according to the ministry.
The UAE-Pakistan Assistance Program, launched in January 2011 at a total cost of $450 million, has funded the reconstruction of infrastructure damaged by floods and natural disasters in Khyber Pakhtunkhwa, Bajaur, and South Waziristan, creating jobs and improving livelihoods in these regions.
The country has also reaffirmed its support to Pakistan in overcoming macroeconomic challenges, exemplified by its $2 billion financial deposit with the State Bank of Pakistan.
Over the past two decades, the UAE public and private sectors have invested more than $10 billion in Pakistan, spanning communications, services, tourism, information technology, oil and gas, housing, banking, and real estate, according to the UAE ministry of foreign affairs.
State-owned and private UAE companies have played an active role in Pakistan’s economic landscape.
The Abu Dhabi Group owns Al Falah Bank and invested in UBL Bank; Dubai Islamic Bank has branches in Pakistan; Mashreq Bank Pakistan is a fully digital, Shariah-compliant bank.
Additionally, Emirati telecommunications firms acquired shares in Pakistan Telecommunications Company Limited for over $2 billion.
Currently, around 19 Emirati companies are operating in Pakistan, reflecting the depth of economic engagement between the two countries, according to the UAE foreign office.
The Pakistan foreign office said earlier this week that Sheikh Mohamed’s visit to Pakistan and the ensuing talks are expected to focus on enhancing cooperation in trade, investment, energy, development, and regional stability.
