PM Shehbaz says in UAE not to seek loans but ‘collaborations, investments’ – World

Prime Minister Shehbaz Sharif on Thursday said the aim of his day-long visit to the United Arab Emirates (UAE) was “not to seek loans but joint collaborations and investments”.

Addressing a round table session of the IT community in Abu Dhabi, he said: “Today I am here […] not to seek loans but to seek joint collaborations and joint investments, which have mutual benefits for the investor and draw dividends through hard work, ingenuity and by using modern tools and skills.

“I want to share with you my broad parameters of our programme; we want to provide the highest quality vocational training and empower our youth with modern skills so that they can come to the UAE,” he added.

PM Shehbaz further expressed his “iron resolve to completely transform the economy of Pakistan in collaboration with our brothers here in UAE — be it through joint ventures, collaborations or knowledge-sharing partnerships”.

“In the short span of 2.5 months, we have transformed our IT ministry in Islamabad but there’s a long way to go,” he added.

Arrival in Abu Dhabi

Upon his arrival in Abu Dhabi, the premier was welcomed by UAE Vice President and Deputy PM Sheikh Mansour bin Zayed Al Nahyan, the government said in a post on X.

Pakistani Ambassador to UAE Faisal Niaz Tirmizi, Emirati envoy to Pakistan Hamad Obaid Ibrahim and senior officials from both countries were also present to receive the premier, the PML-N said.

Shortly after his arrival, the prime minister described the visit as “short but important”.

“Looking forward to a fruitful exchange of views with the UAE leadership with a view to deepen the historic and brotherly PAK-UAE ties,” he said in a post on X.

This is PM Shehbaz’s first visit to the UAE since assuming his office after the February 8 general elections.

According to Radio Pakistan, PM Shehbaz had earlier today departed for the UAE along with key cabinet members, including Deputy PM and Foreign Minister Ishaq Dar, Defence Minister Khawaja Asif, Interior Minister Mohsin Naqvi, Information Minister Attaullah Tarar, Commerce Minister Jam Kamal Khan and Special Assistant to PM Tariq Fatemi.

During the visit, the premier is expected to meet UAE President and Ruler of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan, the FO had said in a press release issued on Wednesday.

The two leaders will discuss bilateral relations between Pakistan and the UAE with a “special focus on trade and investment”, it had stated.

According to the FO, PM Shehbaz is also likely to hold meetings with other Emirati dignitaries, businesspersons and heads of financial institutions.

The FO, noting that both countries have “long-standing fraternal relations deep-rooted in religio-cultural affinity”, had said that such high-level exchanges form a “distinguishing feature” of brotherly ties between Pakistan and the UAE.

The visit marks an important step towards further deepening multifaceted bilateral collaboration between Pakistan and the UAE, the FO had highlighted.

The premier’s visit follows high-level exchanges between Pakistan and Saudi Arabia in the past two months, including two trips made to the kingdom in April.

Shehbaz last visited the UAE in July 2023 — during his previous term as the prime minister — to console the death of the UAE President’s brother, Sheikh Saeed bin Zayed Al-Nahyan.

Prior to that, he made a two-day trip to the Gulf nation in January 2023 to strengthen economic, trade and investment ties with the country.