Pakistan and UAE form a multibillion-dollar partnership in railways, economic zones, and infrastructure.

 

Pakistan and the United Arab Emirates (UAE) have strengthened their commercial ties through a series of breakthrough deals worth more than $3 billion. The deals, unveiled during Pakistan Prime Minister Anwaarul Haq Kakar's visit to the 54th World Economic Forum (WEF) conference in Davos, Switzerland, represent a significant step forward in bilateral engagement.   

The comprehensive agreements cover critical sectors like railways, economic zones, and infrastructure. According to a statement by Pakistan Railways Secretary Syed Mazhar Ali Shah, important projects include the creation of a dedicated freight corridor, a multi-modal logistics park, and freight terminals. DP World, a Dubai-based global logistics corporation, is leading the infrastructure improvements and will play a critical role in modernizing Qasim International Container Terminal, Pakistan's main commercial gateway. Furthermore, DP World has announced plans to create an economic zone close to the facility.

Pakistani Communication, Railways, and Maritime Affairs Minister Shahid Ashraf Tarar attended the signing ceremony, as did H.E Sultan Ahmed bin Sulayem, Chairman of ports, customs, and the free zone corporation (PCFC). 

Also the   to project-specific agreements, two intergovernmental framework agreements were inked to boost bilateral partnerships in the maritime and logistics sectors. The third framework agreement, with Pakistan's Ministry of Maritime Affairs, focuses on dredging a navigation channel. This strategic step aims to promote the establishment of an economic zone at Port Qasim, with the goal of attracting more than $3 billion in foreign direct investment and increasing economic activity in Pakistan.

The accords mark a new era of economic cooperation between Pakistan and the UAE, paving the way for revolutionary breakthroughs in critical areas while also encouraging reciprocal prosperity.