• Pakistan has given its initial approval to enter into a framework agreement with UAE.

Pakistan has given its initial approval to enter into a framework agreement with the United Arab Emirates (UAE) to transfer two additional terminals at Karachi port, along with the development of a new multipurpose cargo terminal. The Cabinet Committee on Intergovernmental Commercial Transactions, led by Federal Minister for Finance Ishaq Dar, made this decision, and the agreement will be signed by both countries’ governments.

This marks the second major seaport terminal agreement between Pakistan and the UAE within two months. The new terminal will cater to food cargo and various commodities like fertilizers.

The anticipated agreement is expected to strengthen trade relations between Pakistan and the UAE, while also boosting economic activity in the region.

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