Pakistan Aims to Transform Economy with UAE Collaboration

Pakistan Aims to Transform Economy with UAE Collaboration

Abu Dhabi, May 23, 2024 – Prime Minister Shehbaz Sharif has declared his government’s strong commitment to transforming Pakistan economy through strategic collaboration with the United Arab Emirates (UAE).

Speaking at the round-table session “Innovate Together: UAE-Pakistan Tech Collaborations” in Abu Dhabi today, the Prime Minister highlighted the potential of joint ventures and knowledge-sharing partnerships to drive economic growth.

Sharif emphasized that his government is prioritizing the promotion of information technology and artificial intelligence across various sectors, including agriculture, mining, and industry. These advancements are aimed at enhancing Pakistan’s export capabilities and modernizing its economic framework.

“The focus on information technology and artificial intelligence is crucial for sectors like agriculture, mines, minerals, and industry,” said Sharif. “We aim to leverage these technologies to boost our exports and economic productivity.”

He also underscored the importance of equipping Pakistan’s youth, who make up 60% of the population, with IT skills. This, he noted, is essential for empowering the younger generation and preparing them for future opportunities both domestically and abroad.

The Prime Minister lauded the existing collaborations between UAE and Pakistani companies, which have significantly promoted the digitization of Pakistan’s economy. He expressed a keen desire to replicate and expand these successful initiatives within Pakistan.

“We are committed to providing the highest quality vocational training, equipping our youth with modern skills to meet international standards,” Sharif added. “Our aim is to enable them to work in the UAE and other global markets, fulfilling all legal requirements.”

Acknowledging the unwavering support of the UAE to Pakistan, especially during challenging times, Sharif declared that his visit to the UAE was focused on fostering joint collaborations and securing mutually beneficial investments, rather than seeking aid.

“I have broken the begging bowl,” he asserted. “This visit is about creating joint ventures and investment opportunities that benefit both our nations.”

During the session, three significant agreements were signed between Pakistani and UAE companies. The agreements included partnerships between Labware Arabia and Maison Consulting, Info Tech Group and 800 Inc Holdings, and Minsait (INDRA) Spain and Info Tech Group. These collaborations are expected to pave the way for substantial advancements in technology and economic growth.

In recognition of their contributions, the Prime Minister also distributed awards to executives of prominent UAE companies with investment portfolios in Pakistan. This gesture underscored Pakistan’s commitment to fostering strong, mutually beneficial relationships with its international partners.

Prime Minister Sharif’s address and the subsequent agreements highlight a pivotal moment in UAE-Pakistan relations, marking a significant step towards economic transformation and technological advancement in Pakistan.