Islamabad, In a significant move to boost economic cooperation, the Governments of Pakistan and Dubai have inked an investment pact worth over $3 billion. The agreements, focusing on collaboration in railways, economic zones, and infrastructure, were signed at the World Economic Forum in Davos.

According to Press Information Department, the agreements were finalized between Shahid Ashraf Tarar, Federal Minister of Communication, Railways and Maritime Affairs of Pakistan, and Sultan Ahmed bin Sulayem, Chairman of Ports, Customs and Free Zone Corporation (PCFC), Government of Dubai. The pact includes the development of a dedicated freight corridor, multi-modal logistics park, and freight terminals, with DP World overseeing infrastructure improvements at Qasim International Container Terminal, Pakistan’s leading trade gateway.

The rail-based Dedicated Freight Corridor, planned from Karachi Port to the Pipri Marshalling Yard, aims to alleviate congestion in Karachi, improve road safety, and enhance logistic efficiency and transport times. Pakistan Railways and Port Qasim Authority will collaborate with DP World in these projects, reflecting the strategic partnership between Pakistan and Dubai.

A second framework agreement was signed with Pakistan’s Ministry of Maritime Affairs for capital dredging of the navigation channel, and the establishment of an economic zone at Port Qasim. This zone is expected to attract more than $3 billion in foreign direct investment, with DP World leading the development on behalf of the Dubai Government.

At the signing ceremony, Shahid Ashraf Tarar highlighted the significance of Pakistan as a gateway to Asia and the potential commercial benefits of the projects. Sultan Ahmed bin Sulayem emphasized Pakistan’s growing market and strategic position as a trade corridor to Central Asia, underscoring DP World’s commitment to enhancing Pakistan’s trading capabilities and port connectivity.