Pakistan appreciates UAE’s decision to roll over $2 billion loan


ISLAMABAD – Pakistan on Tuesday appreciated UAE’s decision to roll-over the $2 billion loan to Pakistan and its continued support and cooperation.

Foreign Office Spokesperson Hafeez Zahid Chaudhri said that the UAE conveyed its decision during Foreign Minister Shah Mahmood Qureshi’s recently-concluded visit to the Gulf state.

On Monday, Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan in a meeting with the visiting counterparty said that UAE had rolled over the $2 billion deposit by the Abu Dhabi Fund.

Qureshi thanked the UAE for its continued support and cooperation bilaterally, as well as at the international fora.

He also thanked his counterpart, underscoring that the decision reflected the warm and brotherly ties between the two countries.

The Pakistan FM also appreciated the UAE’s progress and development over the last five decades. He attributed this achievement to the sagacious and visionary leadership of the nation.

Foreign Minister Abdullah thanked him and acknowledged the valuable role played by Pakistani Diaspora in the UAE’s growth and prosperity.

Both sides reaffirmed their mutual desire to further strengthen cordial relations between the two countries. They reviewed the entire gamut of bilateral relations, discussing ways to enhance cooperation in diverse areas including trade, investment, infrastructure, energy, technology, tourism and manpower. Foreign Minister Qureshi outlined his plans for showcasing the history as well as the future potential of Pakistan-UAE cooperation at EXPO 2020 Dubai in October 2021.

They also discussed ways to provide fresh impetus to existing Pakistan – UAE ties. In this regard, they agreed to facilitate Ministerial level visits from both sides.

Foreign Minister Qureshi lauded the positive contribution of Pakistani Diaspora in the UAE towards the development and progress of both countries. He emphasized the need for nurturing and strengthening people-to-people linkages, as well as removing impediments that hamper travel between the two countries.

The Foreign Ministers also exchanged views on regional and global issues of mutual interest. Foreign Minister Qureshi briefed his counterpart on the grave human rights situation in the Indian Illegally Occupied Jammu and Kashmir and Pakistan’s consistent efforts to support the ongoing peace and reconciliation process in Afghanistan.

Expressing sincere appreciation for UAE’s warm hospitality, Foreign Minister Qureshi reiterated his invitation to Foreign Minister Abdullah to visit Pakistan at the earliest opportunity. Foreign Minister Abdullah graciously accepted the invitation.

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