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UAE-Pakistani Joint Ministerial Commission meeting concludes

posted on 13/06/2007: 653 views

Islamabad - The Minister of Foreign Affairs of the United Arab Emirates Sheikh Abdullah Bin Zayed Al Nahyan with the Foreign Minister of Pakistan co-chaired the 9th session of Joint Ministerial Commission held in Islamabad from June 11-12. The Joint Ministerial Commission concluded with the signing of the following agreements/memorandum of understanding between Pakistan and United Arab Emirates.

I) MoU on bilateral political consultations between the two Foreign Ministers.

(II) Agreement on cooperation in terrorism and organized crime,

(III) MoU on the establishment of a Joint Business Council,

(IV) Protocol on the cooperation in the field of Culture,

V) Protocol on the cooperation in field of Media.

The two Ministers signed also the minutes of the protocol of the Joint Ministerial Commission.

Sheikh Abdullah Bin Zayed Al Nahyan, Foreign Minister of United Arab Emirates called on the President and Prime Minister of Pakistan and exchanged views on bilateral, regional and international issues. The visiting dignitaries also conveyed it to the President of Pakistan that in view of the brotherly relations between United Arab Emirates and Pakistan, the government of United Arab Emirates has renewed a soft loan of US$265 millions for construction of dams.

The U.A.E agrees also to double its investment in Pakistan to US$26 billion. Pakistan and U.A.E agree to finalize steps to construct an oil refinery and infrastructure at Khalifa point for over US$6billion.

In the recent years, U.A.E has shown keen interest in investing in Pakistan which is manifested by the fact that U.A.E is the largest investor in the fields of Telecomm, airlines, financial business and real estate. The present U.A.E investments in Pakistan are to the tune of US$13billion.

U.A.E believes that if the current business friendly policies of the government of Pakistan continue, the investments could easily be doubled. The present trade between the two countries has surpassed US$5 billion making U.A.E as one of the largest trading partners of Pakistan.

The 9th session of JMC provided a useful institutional mechanism and interaction between public and private sectors. The business delegation accompanying the Foreign Minister of U.A.E held separate meetings with their Pakistani counterparts.

On the sidelines of the JMC, the two Foreign Ministers also held bilateral consultations the talks reviewed the entire gamut of bilateral relations in the political and economic spheres. The Foreign Ministers also exchanged views on regional and international issues of common interests, including the Middle East peace process, Palestinian issue, Iraq, Iranian nuclear issue, Afghanistan and the global phenomenon of terrorism and religious extremism.

The Pakistani side provided a comprehensive briefing on the current developments relating to Pakistan-India composite dialogue and reiterated its principled position on an early resolution of the core dispute of Jammu and Kashmir.

Both sides condemned the Israeli aggression on the Palestinian territories and stressed the need for an immediate cessation of hostilities by Israeli troops. The two sides reviewed the state of bilateral relation and agreed to further intensify the ties to their mutual benefit.

Both Foreign Ministers agreed that great potentials existed in the two countries to further enhance the bilateral trade relations. Expressing satisfaction over the increase in bilateral trade, the two sides undertook to make serious efforts to further consolidate their economic relations.

During the interaction, both sides agreed to enhance bilateral relations through collaborative steps, frequent exchange of visits and already existing mechanism such as JMC. The visit of Sheikh Abdullah Bin Zayed Al Nahyan, Foreign Minister of U.A.E is of immense significance to Pakistan. It provided a valuable opportunity to consolidate the existing bonds of friendship and brotherhood new avenues of bilateral cooperation in all fields. (Emirates News Agency, WAM)


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