Pakistan has granted initial approval to sign a framework agreement with the United Arab Emirates (UAE) for the transfer of two additional terminals at Karachi port. The deal includes the development of a new, multipurpose cargo terminal.
The Cabinet Committee on Intergovernmental Commercial Transactions, chaired by Federal Minister for Finance Ishaq Dar, made the decision. The agreement will be signed by the governments of Pakistan and the UAE.
This marks the second significant seaport terminal agreement between the two countries in under two months. The new terminal will handle food cargo and other commodities, such as fertilizers.
This agreement is expected to enhance trade relations between Pakistan and the UAE and boost economic activity in the region.
