Pakistan is prepared to convert relations with the United Arab Emirates into an advantageous economic alliance, according to the foreign minister

Islamabad: On Friday, Foreign Minister Ishaq Dar and his counterpart from the United Arab Emirates (UAE), Sheikh Abdullah bin Zayed Al Nahyan, spoke about the ongoing momentum of multifaceted collaboration between their nations.

FM Dar posted on his X timeline that he received a congrats call from his counterpart in the UAE on Friday.

The foreign minister continued, “I look forward to working closely with His Highness to transform our bilateral relations with the UAE into a mutually beneficial economic partnership.”

Ishaq Dar was appointed to the federal cabinet by Prime Minister Shehbaz Sharif on March 11, the day the new government was formed. The seasoned politician was given the position of foreign affairs minister.

Dar served in the Senate from 2003 to 2022. He previously held the position of minister of finance from 1998 to 1999 and again from March to May 2008.

Dar served as the finance ministry’s leader from 2013 to 2017 and again from 2022 to 2023. He also served as the minister of trade from December 1997 to October 1999 and of industry and investment from February to July 1997. Before this, Dar served as the Senate’s Leader of Opposition from March 2012 to June 2013.

The United Arab Emirates (UAE) agreed to roll over a $2 billion loan and promised an additional $1 billion to Pakistan, which is experiencing a severe economic crisis, in January 2023.

With an average yearly trade volume of $8 billion, the UAE is Pakistan’s biggest trading partner in the Middle East and North Africa (MENA) area. The two countries mainly trade food and textiles, with the volume of bilateral commerce increasing by 25.4% to $10.6 billion in 2021–2022.