ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday met a delegation of the UAE’s International Free Zones Authority (IFZA) to discuss investment opportunities in Pakistan’s special economic zones (SEZs), a statement from Sharif’s office said. 
Pakistan has attempted to attract foreign investment from regional partners such as China and the UAE through its SEZs. These zones are intended to function as zones of rapid economic growth by using tax and business incentives to attract foreign investment and technology.
Sharif met an eight-member delegation of the IFZA, a UAE business setup authority that provides licensing and regulatory services for companies operating within its jurisdiction, and Aleria in Islamabad, the Prime Minister’s Office (PMO) said. The meeting was attended by IFZA Chairman Martin Gregers Pederson and Ilaria Managing Partner Mana Ali Muhammad Hammad Al Shamsi, along with officials from both organizations.
“Pakistan has vast investment opportunities in several sectors,” Sharif was quoted as saying. “The government is taking steps on a priority basis to provide a business and investment-friendly environment in the country.”

The delegation praised Pakistan’s economic stability under Sharif’s leadership and said that the country is emerging as the most suitable market for investment in the region, the PMO said.
“The delegation expressed keen interest in further expanding its investment footprint in Pakistan,” the statement added.

After the meeting, a memorandum of understanding (MoU) was also exchanged between Pakistan’s Board of Investment (BoI) and the IFZA on investment in Pakistan’s existing SEZs, the PMO said. 
UAE’s IFZA will invest in several projects in Pakistan’s existing SEZs, the statement said. 
The UAE is Pakistan’s third-largest trading partner after China and the United States and a major source of foreign investment, valued at over $10 billion in the last 20 years, according to the Gulf country’s foreign ministry.
Pakistan and the UAE have stepped up efforts in recent years to strengthen economic relations. Last year the two countries signed multiple agreements exceeding $3 billion for cooperation in railways, economic zones, and infrastructure development.

ISLAMABAD: Pakistan’s Foreign Minister Ishaq Dar and United Arab Emirates Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan on Wednesday resolved to enhance bilateral cooperation in all sectors, state-run media reported, following Abu Dhabi crown prince’s recent visit to Pakistan.
Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan visited Pakistan on his first official visit to the country on Feb. 27 with a high-level delegation. During the visit, both countries signed key agreements to boost cooperation in mining, railways, banking and infrastructure sectors.
Dar, who is also his country’s deputy prime minister, received a phone call from the UAE foreign minister on Wednesday during which the latter conveyed Ramadan greetings to the former and the people of Pakistan, the state-run Associated Press of Pakistan (APP) reported. 
“Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar, and UAE Deputy PM/ Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan on Wednesday reaffirmed their commitment to enhancing bilateral cooperation across all sectors,” APP said. 
“The two leaders also discussed the results of the recent visit by the Crown Prince of the UAE to Pakistan,” it added. 
Dar also extended Ramadan wishes to the UAE foreign minister and expressed solidarity with the people of the Gulf country.
The UAE is Pakistan’s third-largest trading partner after China and the United States and a major source of foreign investment, valued at over $10 billion in the last 20 years, according to the Gulf country’s foreign ministry.
Pakistan and the UAE have stepped up efforts in recent years to strengthen economic relations. Last year the two countries signed multiple agreements exceeding $3 billion for cooperation in railways, economic zones, and infrastructure development.
Policymakers in Pakistan consider the UAE an optimal export destination due to its geographical proximity, which minimizes transportation and freight costs while facilitating commercial transactions.
The UAE is also home to more than a million Pakistani expatriates, making it the second-largest Pakistani expatriate community worldwide and a major source of foreign workers’ remittances.