Pakistan and United Arab Emirates (UAE) have agreed to start negotiations for greater economic cooperation to achieve Free Trade Agreement (FTA) in the coming years.
This was discussed in a meeting between the Ambassador of UAE to Pakistan Hamad Obaid Ibrahim and Federal Minister for Energy Hammad Azhar in Islamabad on Tuesday.
The minister welcomed the interest of the UAE government to reach a comprehensive economic agreement with Pakistan on the lines of FTA and ensured his full support for this positive development in the historic UAE-Pakistan bilateral relations. Such an agreement will not only pave way for government-to-government (G2G) initiatives but also help create a conducive environment for the business community.
The ambassador appreciated the efforts of Pakistan in successfully hosting the Australian cricket team after 24 years. He further expressed his good wishes for the upcoming Organisation of Islamic Cooperation (OIC) meeting in Islamabad.
The minister lauded the long-standing relations of both countries and reiterated the resolve of this government to further strengthen them. The upcoming visit of Prime Minister Imran Khan to UAE is of utmost importance, he added. The ambassador expressed his high hopes for this visit and expectations of concluding important memoranda of understanding (MoUs) and agreements.
Both parties also exchanged views on the current geopolitical scenario and rising oil prices in the global market.
