Published: Mon, January 07, 2019
Worldwide | By Jermaine Blake

Pakistan rolls out red carpet welcome for UAE crown prince

Pakistan rolls out red carpet welcome for UAE crown prince

Further, sources in the Petroleum Division said the crown prince is expected to announce the facility for Pakistan during his visit to the country.

Later on, an official welcome ceremony was held at Prime Minister House Islamabad in the honour of the Crown Prince.

Elixir Securities Director Research Hamad Aslam said that the exuberance was led by positive developments on financing the External Account Deficit after conclusion of a successful visit by the Crown Prince of UAE. Abu Dhabi's crown prince is in Islamabad on daylong trip to discuss bilateral, worldwide and regional issues with Pakistani leadership.

Sheikh Mohammed was received by PM Khan at the Nur Khan airbase and accorded a ceremonial reception at the PM House, which was followed by a meeting and delegation-level talks.

According to details, this decision was finalised during the Crown Prince of Abu Dhabi Sheikh Mohammad bin Zayed Al Nahyan's visit a day earlier.

"It will be the third interaction between leaders of the UAE and Pakistan within the last three months which is a testimony to the special nature of our brotherly relations with this important GCC country".

A joint statement issued after the royal's visit said Prime Minister Khan thanked the crown prince for the "generous" balance-of-payments support of $3 billion, which appears to have materialised first out of the total financial package.

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The Crown Prince, who is on a day-long visit to the country after almost 12 years, was received by Mr. Khan upon his arrival at Nur Khan airbase in Rawalpindi, Dawn reported. The UAE leadership, he said, had assured Prime Minister Imran Khan during his visit to the country, of help to steer Pakistan out of the present economic crisis.

The two leaders underscored the importance of effectively pursuing the various initiatives taken for a strengthened and strategic bilateral relationship including working on a "long-term investment framework agreement".

The prime minister congratulated the leadership of the UAE for declaring 2019 as the year of tolerance. He also welcomed UAE interest in investing in Pakistan's oil and gas, logistics, ports and construction sectors, the joint statement said.

The two leaders chose to form a task force to take all necessary measures to deal with matters relating to trade enhancement.

Khan briefed the UAE leader about the efforts Pakistan has made to support and facilitate the Afghan-owned and Afghan-led reconciliation process.

"UAE is our major development partner, with tremendous contribution in education, health, energy, and infrastructure development".

"With this, Pakistan would get a total saving of about Dollars 7.9 bn on oil and gas imports from the two friendly countries - accounting for more than 60 per cent of annual oil import bill of about USD 12-13 bn, the cabinet member said".

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