KARACHI, Pakistan

Pakistan on Friday cautiously reacted to the controversial deal between the UAE and Israel to normalize ties, declaring the development with "far-reaching implications."

"We have noted the Joint Statement announcing agreement of UAE and Israel to have full normalization of relations. This is a development with far-reaching implications, " said a statement from the Foreign Ministry.

Islamabad said its approach would be guided by "our evaluation of how Palestinians’ rights and aspirations are upheld and how regional peace, security and stability are preserved."

"Pakistan has an abiding commitment to the full realization of the legitimate rights of the Palestinian people, including the right to self-determination. Peace and stability in the Middle East region is also Pakistan’s key priority," it went on to say.

For a just, comprehensive and lasting peace, it added, Pakistan has consistently supported a two-state solution in accordance with the relevant UN and OIC resolutions as well as international law.

Israel and the UAE have agreed to normalize relations, US President Donald Trump said Thursday, in a move forestalling Israel's controversial plans to annex large swathes of the occupied West Bank.

The development marks only the third time an Arab nation has opened full diplomatic ties with Israel, and the Emirates is now the first Gulf Arab state to do so. Other Arab nations with diplomatic ties with Israel are Egypt and Jordan.