UAE agrees to rollover $2bn loan, give additional $1bn.

UAE -- The United Arab Emirates (UAE) agreed to roll over an existing loan of $2 billion and give an additional loan of $1bn to Pakistan, a statement from the Prime Minister's Office said on Thursday.

The statement was issued after a meeting between UAE President Sheikh Mohamed bin Zayed Al Nahyan and Prime Minister Shehbaz Sharif in Abu Dhabi. The premier is on a two-day visit to strengthen economic, trade and investment ties with the country.

In the statement, the PM Office said that during the meeting, Sheikh Mohamed bin Zayed praised the historical relations between UAE and Pakistan and the valuable contributions of Pakistanis residing in the Middle Eastern country.

'The two leaders discussed the fraternal relations existing between Pakistan and the UAE; and explored ways and means to further strengthen these ties, especially in the fields of trade, investment and energy. The two leaders also had an exchange of views on regional and international issues of mutual interest,' the statement said.

The two sides agreed to deepen investment cooperation, stimulate partnerships and enable investment integration opportunities, it added.

PM Shehbaz invited the UAE president to visit Pakistan, the PMO said, adding that Sheikh Mohamed bin Zayed Al Nahyan had agreed and the dates would be decided through diplomatic channels.

PM Shehbaz will also meet with Sheikh Mohammad bin Rashid Al Maktoum, the UAE's vice president and prime minister as well as the ruler of Dubai. He will also hold meetings with Emirati businessmen and investors to discuss ways to...

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