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Saturday, July 31, 2021

PAK, UAE to expand cooperation in energy sector

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ABU DHABI: Pakistan and UAE have agreed to expand collaboration in energy sector and start joint ventures in various fields. It was decided at a meeting between President Asif Ali Zardari and UAE Minister for Petroleum, Muhammad Dhaen who called on him in Abu Dhabi today.

The two sides reviewed joint energy projects and agreed to expand the existing collaboration and to identify more areas for cooperation in the energy sector. President Zardari said that Pakistan will provide skilled man power and expertise to UAE in this connection. UAE Minister assured that his country will help Pakistan in exploration of oil and gas and initiate joint ventures in this field.

He said his country is setting up an oil refinery at Khalifa Point in Balochistan with an investment of five billion dollars. Meanwhile, Vice President of Abu Dhabi National Energy Company Abdullah Khunji also called on the President and expressed keen interest to invest in Pakistan’s energy sector particularly for setting up of a coal-based power plant.

He also had an in-depth discussion on the prospects and opportunities of investment in Pakistan, with focus on the energy sector. President Zardari welcomed the interest for investment in Pakistan’s energy sector. He hoped that it will help boost the existing cooperation and joint ventures between the two counties in this vital field.

He assured that all possible assistance would be provided to the company in its endeavors to invest in Pakistan. Abdullah Khunji later told media that Pakistan is the best market for investment and his company will soon enter the Pakistani market.

Chairman Emirates Investment Group Tariq Al Qasimi also had a meeting with President Zardari. They discussed the global as well as the regional economic situation, with focus on the opportunities of investment in Pakistan’s financial sector. The President said the government will encourage the foreign investment in various sectors.

Tariq Al Qasimi later told Radio Pakistan correspondent Javed Akhtar that their company already has its presence in Pakistan with investment in various projects and was exploring new avenues of investment in agriculture and banking sectors.

Later, talking to Pakistani media persons, the UAE Minister for Petroleum said various areas of joint ventures in petroleum sector were identified during his meeting with the President. He said also discussed the prospects of investment in oil and gas exploration projects in Pakistan
Terming the visit of the Mr. Asif Ali Zardari as productive and fruitful, the UAE Minister hoped that it will further strengthen the existing close and friendly ties between the two countries.-SANA

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