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Pakistan and UAE Sign $3 Billion Agreements to Boost Ties

Davos, Switzerland – Pakistan and the United Arab Emirates (UAE) have signed two agreements totaling over $3 billion to boost economic ties between the two countries.

The agreements, signed on the sidelines of the World Economic Forum in Davos, aim to enhance cooperation in the maritime, logistics and infrastructure sectors.

The key signatories were UAE’s Ports, Customs and Free Zone Corporation (PCFC) Chairman Sultan Ahmed bin Sulayem, Pakistan’s Caretaker Prime Minister Anwaarul Haq Kakar, Minister of Communication, Maritime Affairs and Railways Shahid Ashraf Tarar, and Federal Minister Mr. X.

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Under the deals, an industrial zone and dedicated freight corridor will be developed near Karachi Port, connecting it via rail to the Marshalling Yard Pipri over 50 kilometers.

Prime Minister Kakar said Pakistan will continue to encourage partner businesses to help realize its goal of becoming a trade and industrial hub. PCFC Chairman bin Sulayem noted DP World’s long history in Pakistan and aim to build on the relationship through major projects.

The agreements are seen as a significant step in boosting Pakistan’s trade potential and further strengthening ties between the two countries.

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