ISLAMABAD, 31 May 2006 — Pakistan and the United Arab Emirates yesterday signed three memorandums of understanding (MOUs) to promote cooperation in infrastructure, industrial and real estate development as well as banking.
The MOUs were signed following talks between Prime Minister Shaukat Aziz and his UAE counterpart Sheikh Muhammad ibn Rashid Al-Maktoum.
Al-Maktoum arrived in Islamabad yesterday on a daylong visit for talks with Pakistani leaders on reinforcing ties in trade, economic, commercial, investment, defense and security fields.
Trade between the two countries stood at $2.78 billion last year, with the overall balance in favor of the UAE due to Pakistan’s import of oil and oil products. The two countries also enjoy close cooperation in the field of defense.
The UAE is the regular buyer of Super Mushshak or Cessna aircraft, manufactured at Pakistan’s aeronautical complex and other light-weight military equipment produced by the country’s Ordnance factories located near Islamabad.
Official Associated Press of Pakistan quoted Premier Aziz as inviting investors and businessmen from the UAE, during the talks, to tap the tremendous real estate potential in Pakistan and invest in various infrastructure projects including roads, rail and ports.
The prime minister said his country was “delighted” that Dubai Islamic Bank was expanding its operations in Pakistan, adding it would further strengthen business ties between the two countries.
The two leaders also discussed the role of the Organization of Islamic Conference in promoting inter-faith harmony and projecting the true image of Islam as a religion.
“The OIC provides an ideal platform to project the true image of Islam and also to promote its message of interfaith, inter cultural and inter civilization harmony,” the two leaders said.
They underscored the need to dispel the misgivings and misperceptions about Islam through concerted and united efforts by the Muslim world.
The Iranian nuclear issue also figured at the talks with Aziz calling for a peaceful solution to the crisis. “The crisis should be resolved through dialogue,” he said while opposing a possible use of force against Tehran.
— Additional input from agencies
