Pakistan, UAE agree to enhance trade ties

By Islamuddin Sajid </p> <p>ISLAMABAD, Pakistan (AA) – Pakistan and the UAE on Sunday decided to form a Task Force to deal with matters related to trade enhancement between both countries, a statement said. </p> <p> </p> <p>The decision has made in Islamabad during a delegation-level meeting led by Pakistani Prime Minister Imran Khan and Sheikh Mohamed bin Zayed Al Nahyan, the crown prince of Abu Dhabi. </p> <p> </p> <p>The crown prince, accompanied by a high-level delegation, arrived on a day-long official visit to Islamabad on Sunday morning at the invitation of Khan. </p> <p> </p> <p>&quot;The two leaders underscored the importance of effectively pursuing the various initiatives taken for strengthened strategic bilateral economic relationship including working on a long term investment framework agreement&quot; said a statement issued by the Prime Minister House.</p> <p> </p> <p>According to the statement, the two sides also expressed satisfaction at the on-going defense and security cooperation and agreed to explore further collaboration in the area of training, joint exercise and defense production.</p> <p>During the meeting, Khan thanked the crown prince for the generous Balance of Payment support of $3 billion to his country. </p> <p> </p> <p>On Dec. 21, UAE announced that the country will deposit $3 billion in the State Bank of Pakistan to support the country's financial and to enhance liquidity and monetary reserves of foreign currencies.</p> <p> </p> <p>&quot;This financial support shows the UAE's continued commitment and friendship has remained steadfast over the year,&quot; Khan told the Crown Prince.</p> <p> </p> <p>The prime minister also welcomed the UAE's interest in investing in Pakistan's oil and gas, logistic and construction sectors.</p> <p> </p> <p>Khan briefed the crown price about the efforts Pakistan was making to support and facilitate the Afghan owned and Afghan-led reconciliation process. </p> <p> </p> <p>The two leaders agreed to work closely for the lasting peace and stability in Afghanistan.