UAE invites Pakistani entrepreneurs to explore market opportunities, promises full cooperation

ISLAMABAD: The United Arab Emirates is ready to extend full cooperation to Pakistan’s business community and assist its members to explore market opportunities in the Gulf country, a top UAE official was quoted by the Associated Press of Pakistan on Thursday.
The Pakistan Business Council held a trade session in Dubai earlier this week, inviting several high-profile dignitaries including the UAE state minister for foreign trade, Dr. Thani bin Ahmed Al Zeyoudi.
“For us, Pakistan is among the top 25 important strategic global trade partners,” he said.
The minister acknowledged the strong bilateral relations between the two countries while pointing out that they were grounded in a long history and significant level of mutual trust.
He maintained that trade between the two countries had witnessed a significant increased over a period of time.
“The UAE recently announced the 100 percent foreign ownership law, which has spurred economic activity and been hailed by the business community around the world,” Al Zeyoudi told the participants of the gathering.
He continued that Pakistan was his country’s second biggest partner in terms of imports, adding that the two sides also had significant investments in various sectors including real estate.
Pakistani envoy to the UAE Afzaal Mahmood also noted that his country’s entrepreneurs could benefit from the diverse market in the Arab state.
He pointed out that the two economies “complemented each other” while arguing in favor of exploring “value-added advantages in the interest of both sides.”
The event concluded with a resolution that the two countries should do their best to double their trade volume in the next five years.
The APP reported that the quantum of trade between Pakistan and the UAE stood at $8.19 billion in 2019.

UAE invites Pakistani entrepreneurs to explore market opportunities, promises full cooperation