UAE’s Sheikh Mohamed bin Zayed visits Pakistan, meets PM Imran Khan
During the visit, the UAE is anticipated to sign a multi-billion dollar support package for Pakistan
Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed Al Nahyan arrived in the Pakistani capital of Islamabad on Sunday, where he met with Prime Minister Imran Khan.
Sheikh Mohamed was received at the airport by Khan, where an official reception ceremony was held.
The two leaders then held official talks “on enhancing cooperation and friendship” and discussed “regional and international issues of mutual interest”, according to an official statement on Twitter.
Mohamed bin Zayed and the Pakistani PM hold official talks in Islamabad on enhancing cooperation and friendship and discuss regional and international issues of mutual interest. pic.twitter.com/YskLDPE2Bh
— محمد بن زايد (@MohamedBinZayed) January 6, 2019
During the visit, the two countries finalised a $6.2bn bailout package for Pakistan, according to the Pakistani finance ministry.
That includes $3.2bn worth of oil supplies on deferred payment, on top of the $3bn support that was announced late last year when Imran Khan visited the UAE.
In December, the UAE announced plans to deposit $3bn in Pakistan’s central bank, aimed at supporting the country’s monetary reserves.
The Abu Dhabi Fund for Development said the amount will also boost liquidity in Pakistan, which is struggling with a gaping current account deficit.
Read: Pakistan to get $3bn loan from UAE, eyes deferred oil payments
During the one-day visit, Sheikh Mohamed also affirmed his keenness to develop cooperation with Pakistan to further improve relations between the two countries.
“My close relationship with Pakistan started at a very young age, during my childhood. And I’m lucky today to be in Pakistan in my first official foreign visit during 2019. My sincere wishes for success and prosperity to the government and people of Pakistan,” official news agency WAM quoted Sheikh Mohamed as saying.
He also expressed optimism about the new generation leading Pakistan.
“They provide chances at building hope and establishing prosperous foreign relations over years to come.”