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Pakistan secures 10 multibillion-dollar deals with Kuwait

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November 30, 2023
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Pakistan secures 10 multibillion-dollar deals with Kuwait

Pakistan secures 10 multibillion-dollar deals with Kuwait

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Pakistan signed 10 bilateral cooperation and investment deals with Kuwait during Prime Minister Anwaar-ul-Haq Kakar’s visit to the Gulf country on Wednesday, where he met Crown Prince Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah and other leaders.

Kakar’s Kuwait stopover is part of a week-long tour to the Middle East, starting with the United Arab Emirates where he signed deals worth billions of dollars on Monday.

Pakistan Army Chief General Asim Munir, who is also accompanying the prime minister, held a separate meeting with Kuwait’s crown prince, earlier in the day.

“During the meeting [with the Crown Prince], the Prime Minister underscored the resolve to forge deeper economic engagement between Pakistan and Kuwait, including in trade, energy, IT, labor, mineral and investments,” the PM Office said in a statement.

Kakar also met Kuwait’s First Deputy Prime Minister and Minister for Interior Sheikh Talal Al-Khaled Al-Ahmad Al Sabah.

“The two leaders witnessed the signing of seven agreements concluded to attract multi-billion dollars investment from the State of Kuwait in various sectors of Pakistan including food security/agriculture, hydel power, water supplies (safe drinking water and supporting mining activities), establishment of mining fund to support mineral industry, technology zones development and mangrove preservation,” said the official statement.

Additionally, three MoUs in the fields of culture, environment and sustainable development were also signed.

Kakar highlighted the importance his country attributed to its relationship with Kuwait and reiterated his government’s desire to further expand bilateral cooperation in diverse fields.

“He appreciated the measures undertaken by Kuwait for the recruitment of Pakistani manpower in the fields of health, security and infrastructure,” the statement added.

Prior to arriving in Kuwait on Tuesday night, Kakar spent much of the day in Abu Dhabi where he visited the famous Sheikh Zayed Grand Mosque, considered a masterpiece of modern Islamic architecture which can accommodate over 40,000 visitors. He also went to the mausoleum of the late Sheikh Zayed bin Sultan Al Nahyan.

The Pakistani prime minister oversaw the signing of multiple MoUs between the UAE on his country on Monday in energy, port operation projects, waste water treatment, food security, logistics, minerals, and banking and financial services sectors.

“These MoUs will unlock multi-billion dollars of investment from United Arab Emirates into Pakistan and will help realize various initiatives envisioned under [Pakistan’s] Special Investment Facilitation Council,” the Pakistani foreign office said in a statement, referring to a special body set up in July to seek investment from foreign countries, particularly in the Gulf region.

The prime minister will leave for Dubai after concluding his Kuwait visit to attend the World Climate Action Summit, scheduled to take place on Dec. 1-2 as part of the UN climate change conference, or COP28.

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