Pakistan to Focus on Joint Investments, Not Loans in UAE: PM Sharif

During a significant visit to the United Arab Emirates (UAE), Prime Minister Shehbaz Sharif of Pakistan articulated a strong message of self-reliance and mutual growth, marking a departure from past practices of seeking financial aid. The Prime Minister's trip underscores the deep, fraternal ties between Pakistan and the UAE, rooted in shared religious and cultural values. This relationship is highlighted by frequent high-level exchanges that have been a hallmark of the bilateral friendship.

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Prime Minister Sharif, in a bold statement during a session in Abu Dhabi, declared, "Gone are the days that I will go to our brotherly countries with begging bowls. I have broken that bowl," as reported by Geo News. This assertion reflects a new strategic direction for Pakistan, focusing on joint collaborations and investments rather than seeking loans.

Addressing UAE President Mohammed bin Zayed Al Nahyan in absentia, Sharif conveyed his appreciation for the UAE's consistent support, akin to that of a family member or brother. He emphasized that his visit aimed at fostering joint ventures and collaborative investments that promise mutual benefits and dividends through hard work, innovation, and the application of modern tools and skills.

The Prime Minister highlighted the importance of promoting information technology (IT) skills among Pakistani youth, who make up 60 percent of the country's population. He praised the existing collaboration between UAE and Pakistani companies in digitizing the economy and expressed his desire to replicate these successes in Pakistan. Sharif committed to providing high-quality vocational training equipped with modern skills to enable legal employment opportunities in the UAE for Pakistani nationals.

Sharif's government, which assumed office in March, has shown a keen interest in transforming Pakistan's economy through international collaborations, joint ventures, and knowledge-sharing partnerships with countries like the UAE. The focus is particularly on enhancing information technology and artificial intelligence applications across various sectors such as agriculture, mines and minerals, and industry to boost exports.

In 2023, amidst efforts to recover from devastating floods, Pakistan received significant financial support from the UAE, including an extension of a USD 2 billion loan and an additional USD 1 billion aid. This support underscores the enduring friendship and cooperation between the two nations. Furthermore, Pakistan has also benefited from aid provided by China, reinforcing its position with its all-weather ally during challenging times.

The Prime Minister's visit to the UAE represents a pivotal moment for Pakistan as it seeks to redefine its economic strategy on the global stage. By prioritizing sustainable development through international partnerships and leveraging technology for economic growth, Pakistan aims to chart a new course towards prosperity and self-reliance.