Davos (TDI): Pakistan’s Finance Minister Muhammad Aurangzeb met with his counterpart from the United Arab Emirates, Mohamed Al Hussaini, on the sidelines of the World Economic Forum Annual Meeting.
The meeting provided an opportunity for both sides to review ongoing economic engagement and discuss ways to further strengthen the close and multifaceted relationship between Pakistan and the UAE.
During the meeting, the Emirati Minister inquired about the progress of Pakistan’s engagement with the International Monetary Fund (IMF).
Aurangzeb briefed his counterpart on the smooth continuation of the IMF program, including the ongoing review under the Extended Fund Facility and the first review of the Climate Resilience program.
Al Hussaini appreciated the strong level of relations between the leadership of both countries and highlighted the importance of close people-to-people ties, which continue to underpin the longstanding partnership between Pakistan and the UAE.
Pakistani Finance Minister, in turn, thanked the UAE for its ongoing financial cooperation, including bilateral deposits and transactions, and emphasized the shared objective of transforming traditional support into long-term investment partnerships, describing this approach as mutually beneficial and essential for sustainable growth.
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The Emirati Minister concurred, underscoring the importance of investment-led cooperation in supporting economic stability and long-term development.
Minister Aurangzeb also acknowledged the UAE’s experience in emerging financial technologies and shared Pakistan’s recent steps toward strengthening its regulatory framework, including the establishment of a dedicated authority focusing on tokenization.
He highlighted growing collaboration with Emirati financial institutions and noted encouraging trends in business-to-business engagement and offshoring activities.
The Emirati Minister welcomed these developments and expressed confidence that cooperation in these areas will continue to expand. Both sides exchanged views on the regional and global economic outlook as well.
While acknowledging prevailing geopolitical challenges, the Emirati Minister expressed optimism about improved prospects ahead and noted that the past year had marked positive progress for Pakistan.
Pakistani Minister agreed and shared that Pakistan has successfully undertaken important financial transactions over the past year, reflecting improving market confidence and renewed access to international capital markets.
He also outlined key economic achievements, noting a significant reduction in inflation and improvements in macroeconomic stability.
