ISLAMABAD: Pakistan Navy ship Aslat is taking part in the multi-national Komodo 25 exercise in Bali, Indonesia, aimed at enhancing maritime cooperation and strengthening regional security, the navy said on Wednesday. 
The navies of approximately 38 countries are taking part in the Komodo 25 exercise in Bali. The fifth edition of the exercise is taking place under the theme: ‘Maritime Partnership for Peace and Stability.’
“The exercise commenced with a grand Fleet Review, where PNS ASLAT, alongside other warships, helicopters, and aircraft from participating nations, showcased naval capabilities and demonstrated interoperability,” Pakistan Navy said in its press release. 

It said PNS Aslat’s participation in the exercise underscored Pakistan Navy’s commitment to international maritime collaboration and its role in promoting peace, security, and stability in the region. 
Before taking part in the exercise, the ship visited Colombo, Sri Lanka, where its commanding officer called on the commander of the Western Naval Area and other senior military officials.
“Discussions focused on matters of mutual interest, reaffirming the commitment to strengthening bilateral ties in all spheres,” Pakistan Navy said.
It said that Pakistan Navy ships are regularly deployed under the Regional Maritime Security Patrols (RMSP) to fulfill international obligations for maritime security, ensure freedom of navigation on the high seas, and safeguard global commons.
“The visit of PNS Aslat to Sri Lanka and Indonesia will significantly contribute to enhancing naval collaboration between the friendly nations,” the navy said.

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.