On Tuesday, Pakistan and the UAE reiterated their commitment to deepening and broadening their unique bilateral ties.
The news broke during a phone call between UAE President Sheikh Mohamed bin Zayed Al Nahyan and Prime Minister Shehbaz Sharif.
“The prime minister praised the president of the UAE for providing financial and material support to Pakistan following the recent destruction caused by floods resulting from climate change. The PM Office released the statement.”
“The prime minister informed the president about the upcoming “International Conference on Resilient Pakistan,” which will take place in Geneva on January 9.” The prime minister asked for the president’s cooperation in securing high-level UAE participation in the conference. The president was asked for his cooperation in securing UAE participation in the conference.
The main goal of the “International Conference on Resilient Pakistan” is to increase Pakistan’s climate resilience. President Sheikh Mohamed expressed the UAE’s unwavering support for these efforts. The conference is set to take place in Geneva on January 9.
“The prime minister invited the UAE president to visit Pakistan.”
Pakistan and the UAE have had close fraternal connections for more than 50 years. The UAE is Pakistan’s biggest trading partner in the Middle East and a significant source of investment.”Shared beliefs, values, and culture firmly anchor the relationship between the two countries.”
Pakistan and the UAE decide to sign a GtG agreement.
In a significant development, Pakistan and the UAE decided to sign a GtG long-term agreement. The agreement covers the import of gasoline, jet fuel, and crude oil. The goal of the agreement is to guarantee Pakistan’s continued access to petroleum products.
Under a 5-year agreement, Pakistan would buy 1.5 million tonnes of Motor Spirit (Mogas). This translates to 30 cargoes, or two to three cargoes per month for Pakistan State Oil (PSO) to import. PSO will import the Mogas from the UAE under the agreement.
Pakistan State Oil (PSO) and Abu Dhabi National Oil Company (ADNOC) will sign a business agreement on a GtG basis. As a result, the import of gasoline from the UAE’s ADNOC is most likely to start in January 2023 under the GtG agreement. “The government owns PSO, which is a publicly-traded company.”
“Recent negotiations in Abu Dhabi determined this.” The group from Pakistan was led by Minister of State Musadik Masood Malik and included the Secretary of Petroleum, Secretary of the Board of Investment, MD PSO, MD PARCO, and other representatives from the Petroleum Division. The negotiations took place in Abu Dhabi.