DAVOS: On the sidelines of World Economic Forum in Davos Switzerland, Pakistan singed an agreement with United Arab Emirates under which the UAE will make investments worth more than three billion dollars in railways, economic zones and infrastructure development in Pakistan.
The agreement was signed between the government of Pakistan and a UAE-based company in the presence of caretaker prime minister Anwaarul Haq Kakar, Radio Pakistan reported.
Minister for Communication, Railways and Maritime Affairs Shahid Ashraf Tarar from Pakistan and Sultan Ahmed bin Sulayem, Chairman of Ports, Customs and Free Zone Corporation of Dubai, signed the document on behalf of their respective governments.
Speaking on the occasion, Shahid Ashraf Tarar said DP World, a company which will act on behalf of the Dubai government, had longstanding presence in Pakistan.
He said building on the unwavering trust and partnership, the two countries had decided to further consolidate the economic cooperation through landmark projects.
In his remarks, Sultan Ahmed bin Sulayem Pakistan is a growing market, and an important trade corridor to Central Asia.
He said we are proud to have contributed to Pakistan’s trading ability through our operations at Qasim International Container Terminal and in other projects.
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