Dr.Syed Mehboob
Research Scholar, Economic and Political Analyst
http//:www.thenewslark.com
Monday 27th November,2023 was a historical day and another important mile stone for Pakistan UAE brotherly and friendly relations when two countries signed Memorandums of Understanding (MoU) pertaining to investment cooperation that will unlock, “Multi-Billion dollars” in funding from the Middle East. This historical development came in a meeting between caretaker Prime Minister Anwaarul Haq Kakar and UAE President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi during the former’s week-long trip to the Middle East. These MoUs envisage in the sectors of Energy, Port Operations, Wastewater Treatment, Food Security, Logistics. Minerals, Banking and Financial Services and will open new vistas and door of opportunities for mutual cooperation and will take Pakistan and United Arab Emirates relations to a new height. This initiave will also pave the way in implementation of the Special Investment Facilitation Council (SIFC).
Now on Thursday,23rd May, 2024 UAE pledged to invest US$ 10 billion to invest in Pakistan which might prove vital for the development of Pakistan and will boost its economy. This was announced after a meeting between Prime Minister Shahbaz Sharif and UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan. This was the second such pledge from a foreign nation in as many months, after Saudi Arabia committed to fast tracking a US$ 5 billion investment in Pakistan last month. The Prime Minister believes that only the way of trade and investment can bring real change and boost Pakistan’s economy and relying on loan and aid is wrong strategy. The path towards development and progress is self reliance. The Prime Minister of Pakistan also highlighted steps taken by his government to ensure socio economic stability in the country and confidence building of investors. He reiterated Pakistan’s commitment to ensure meaningful implementation of investment cooperation agreements in the areas of energy, ports operation projects, wastewater treatment, food security, logistics, minerals, and banking and financial services. Mian Shahbaz Sharif thanked the UAE leadership for hosting 1.8 million Pakistani diaspora and highlighted the country’s huge human resource potential that could be engaged in multiple sectors. The two leaders discussed issues of mutual interest including regional and global developments while the PM extended an invitation to the UAE president to visit Pakistan which the latter accepted. The Prime Minister also addressed a roundtable conference titled “Innovate together: UAE-Pakistan Tech Collaboration where he said that no nation had ever achieved prosperity through aid. This event was organized by Pakistan Software House association and Pakistan Software Board in collaboration with the Ministry of IT and Telecommunication and Pakistani embassy in Abu Dhabi. The PM vowed to transform the economy in collaboration with the UAE , be it a joint venture, collaboration or knowledge-sharing partnership. During this event, Pakistan and UAE signed three MoUs for digital transformation. The Prime Minister also met the Abu Dhabi Fund Development (ADFD) director general and a delegation of the Abu Dhabi Chamber of Commerce and Industry, Mr. Mohammad Said al Sunwaidi,
This is good news for the whole nation and Prime Minister Shahbaz called it a historic one. It is also beginning a new economic partnership between UAE and Pakistan which would lead towards strategic partnership in economic, political and defence fronts. The UAE is home to 1.8 million talented, hardworking skilled, semiskilled and unskilled Pakistanis who are working day and night for the progress. development and prosperity of brother country UAE and contributing with valuable remittances for the support of Pakistani economy.
Pakistan supports peace, stability, justice and cooperation in the region and supports for a just and durable solution to the Palestinian question anchored in international law and in line with relevant United Nations and Organization of Islamic Cooperation resolutions.
It is important to note that UAE presented a resolution in United Nations General Assembly on Friday 10th May,2024 which was overwhelmingly adopted by 193 members opposed by only 9 including United States of America. The resolution declared that Palestinians qualify for full members status at the United Nations, a highly symbolic move that reflects growing global solidarity with Palestinians and is a rebuke to Israel and United States of America.
Adopted a resolution declaring that Palestinians qualify for full-members status at the United Nations, a highly symbolic move that reflects growing global solidarity with Palestinians and is a rebuke to Israel and the United States.The Assembly broke into a big applause after the vote.The resolution was prepared by the United Arab Emirates, the current chair of the U.N. Arab Group, and sponsored by 70 countries. The United States voted no, along with Hungary, Argentina, Papua New Guinea, Micronesia and Nauru.“The vast majority of countries in this hall are fully aware of the legitimacy of the Palestinian bid and the justness of their cause, which faces fierce attempts to suppress it and render it meaningless today,” said the U.A.E. ambassador, Mohamed Abu Shahab, as he introduced the resolution on behalf of the Arab Group.
Pakistan and UAE reaffirmed their resolve to further strengthen economic and strategic cooperation and underlined that Pakistan and UAE had, “deep rooted fraternal and historical ties which had stood the test of time”.
Pakistan and United Arab Emirates are two friends, brother Islamic countries; both countries people can hear the voice of their heartbeats which sing the songs of strong ties, excellent relations,and wide range of cooperation between two countries, covering areas of economic cooperation, trade, investment, defence, culture, religion, education etc. Both countries leadership trust each other on and join hands on difficult times whenever faced by any one of them. This friendship is time tested, deep rooted and in recent times it reached to new height which is a good omen for the region.
UAE is a country in Western Asia at the Southeast end of the Arabian Peninsula on the Persian Gulf, bordering Oman to the east, and Saudi Arabia to the south, as well as sharing maritime borders with Qatar to the west, and Iran to the north. It is a federation of seven Emirates consisting of Abu Dhabi (which is the capital), Ajman, Dubai, Fujairah,Rasul Khaimah, Sharjah and Umm Al Quwain. About 10% 1.8 million of its population consists of Pakistani diaspora who are rendering valuable services for brother country. Their contribution in development, progress and prosperity of UAE is acknowledged both by people and leadership of UAE.
The area of UAE is 83,600 sq km and population is around 10 million out of 1.50 million are Emiratis and about 8.50 million are expatriates. Islam is the official religion and Arabic is the official language of UAE. UAE’s oil reserves are the seventh largest in the world while its natural gas reserves are the world’s 17th largest.
UAE economy is the most diversified in the Gulf Cooperation Council, while its most populous city Dubai is an important global city and an international aviation and maritime trade hub. The UAE government does not levy income tax although there is a system of corporate tax in place and value added tax was established in 2018 at 5% only.
The president of United Arab Emirates is the head of the state. Officially he is elected every five years by the federal supreme council, but because of the ruler of Abu Dhabi customarily also holds the presidency of the UAE.
UAE is the regional and Middle East power. It is an active and vibrant member of UNO, The Arab League, The Organization of Islamic Cooperation, OPEC and the Gulf Cooperation council.
