PM Shehbaz Sharif: UAE-Pakistan fraternal bonds mutually rewarding for economic ties

Dubai News

Ambassador of United Arab Emirates (UAE) to Pakistan H.E. Hamad Obaid Ibrahim Salem Al-Zaabi, on Thursday, called on Prime Minister of Pakistan Muhammad Shehbaz Sharif at the PM House on Thursday, where the former delivered an invitation from the UAE leadership to the Prime Minister, inviting him to attend COP28, scheduled to be held in Dubai from 30 November to 12 December 2023.

The Prime Minister thanked the UAE leadership for the invitation and appreciated their support in relief efforts following the devastating floods in Pakistan last year. He also commended the UAE's role in combating climate change and expressed hope that their stewardship of COP28 would result in meaningful outcomes for countries like Pakistan, which are most vulnerable to climate change. The meeting was an opportunity for the Prime Minister to recall his successful visit to the UAE in January of this year, during which he emphasized the common resolve of the leadership of both countries to translate their fraternal bonds into mutually rewarding economic ties. The UAE is home to 1.7 million Pakistanis, who have contributed significantly to the progress, prosperity, and economic development of both countries. Pakistan has strong brotherly relations and vibrant economic ties with the UAE. The UAE has always stood with Pakistan during times of distress, and the Prime Minister acknowledged their support at regional and global forums. The invitation to COP28 is significant for Pakistan, as climate change poses a severe threat to the country's economy and environment. According to the Global Climate Risk Index 2021, Pakistan ranks fifth on the list of countries most affected by climate change. The country has experienced extreme weather events, including floods, droughts, and heatwaves, which have caused significant damage to its infrastructure, agriculture, and overall economy. COP28 is an opportunity for Pakistan to engage with the international community and showcase its efforts to mitigate the effects of climate change. The country has taken several initiatives to combat climate change, including the launch of the Ten Billion Tree Tsunami Programme. Pakistan has also committed to reducing its greenhouse gas emissions by 30% by 2030 under the Paris Agreement. The Prime Minister's meeting with the UAE Ambassador underscores the importance of collaboration between countries in addressing global challenges such as climate change. Pakistan and the UAE share a strong bond of brotherhood, and the invitation to COP28 is a testament to their commitment to working together for a safe future. Pakistan and the UAE have a robust economic relationship, with bilateral yearly trade amounting to $8 billion to $10 billion. The UAE is one of Pakistan's largest trading partners, with exports from Pakistan consisting of rice, textiles, and chemicals, while the UAE exports oil, petrochemicals, and machinery to Pakistan. The UAE is also one of the largest investors in Pakistan, with investments in sectors such as real estate, hospitality, technology, and banking. The two countries are committed to further strengthening economic ties, with a focus on increasing trade, promoting investment, and exploring new avenues of cooperation, including infrastructure development and technology transfer. https://dubainews.tv/pm-shehbaz-sharif-uae-pakistan-fraternal-bonds-mutually-rewarding-for-economic-ties/?feed_id=15516&_unique_id=6439f7e4adc3c