ISLAMABAD: UAE’s minister of state for foreign trade, Dr. Thani bin Ahmed Al Zeyoudi, arrived in Islamabad for a two-day official visit on Thursday, Pakistan’s commerce ministry said, with talks between the two sides to focus on enhancing bilateral trade and the UAE’s investment in the South Asian country.
The UAE is Pakistan’s third-largest trade partner after China and the United States. It is also viewed as an ideal export destination by policymakers in the South Asian country due to its geographical proximity to Pakistan that reduces transportation and freight costs.
The Gulf country is also home to an estimated 1.8 million Pakistani expatriates and after Saudi Arabia, the second-largest source of remittances for the South Asian nation of more than 240 million. Pakistan’s principal exports to the UAE consist of textile products and various food items.
Pakistan’s minister for interior and commerce, Dr. Gohar Ejaz welcomed Al Zeyoudi and his delegation upon their arrival at the Islamabad airport.
The UAE commerce minister’s visit will further strengthen Pakistan-UAE relations,” Ejaz was quoted as saying by the commerce ministry. “The focus [of talks] would be on increasing the volume of bilateral trade and the UAE’s investment in Pakistan.”
Earlier this month, Pakistan and the UAE signed multiple agreements worth more than $3 billion for cooperation in railways, economic zones and infrastructure in Davos during the 54th World Economic Forum summit.
The agreements covered the development of a dedicated freight corridor, multi-modal logistics park, and freight terminals, according to a statement shared by Syed Mazhar Ali Shah, the Pakistan Railways secretary.
