UAE keen to promote trade relations with Pakistan:  Envoy


ISLAMABAD Oct 13 (TNS):  Hamad Obaid Alzaabi, Ambassador of the United Arab Emirates has said that UAE wanted to further enhance trade relations with Pakistan as both countries have great scope to promote trade in many areas.

He said Pakistan and UAE should focus on developing a 10-year roadmap to take benefit from potential areas of mutual cooperation. He said Pakistani business community should take active part in Annual Investment Meetings and Expo 2020 in UAE to explore possibilities for enhancing their business prospects. He was addressing business community at Islamabad Chamber of Commerce and Industry during his visit to Chamber.

The Envoy said that UAE would host first international level “Expo 2020” in which 100 countries would participate and stressed that private sector of Pakistan should participate in that Expo to explore business opportunities. He said hundreds of Pakistani companies were doing successful business in free economic zones of UAE and more should invest in those zone that offer attractive environment for investment.

He said exchange of business delegations was important to explore new avenues of cooperation and assured that he would work with ICCI to promote connectivity between the private sectors of both countries.

In his welcome address, Sheikh Amir Waheed, President, Islamabad Chamber of Commerce and Industry said that Pakistan and UAE enjoyed cordial relations but bilateral trade of over $ 8 billion was not reflective of the actual potential of both countries. He stressed that both countries should focus on promoting strong connectivity between private sectors and facilitate frequent exchange of trade delegations that would help in further enhancing current volume of bilateral trade.

He said that Pakistan and UAE should focus on developing strong linkages between their youth and women entrepreneurs by creating platforms like youth and women business councils that would help in promoting sustainable trade and economic relations between both countries.

He said Pakistan offered tremendous investment opportunities to UAE’s investors in various sectors of its economy including infrastructure development, power generation, water management, agro industries and they should visit Pakistan to explore JVs and investment. He said that many areas including aluminum products, horticulture, farming, dairy farming, livestock, financial sector, prefabricated houses and affordable low income houses also offered good prospects for JVs and urged that both countries should strengthen cooperation between SMEs to achieve more beneficial results.

Muhammad Naveed Senior Vice President and Nisar Ahmed Mirza Vice President ICCI emphasized for regular interaction between Chamber and UAE Embassy to explore areas for improving bilateral trade and economic relations. Mehfooz Elahi, Ejaz Abbasi, Khalid Malik, Shakeel Munir, Ms. Fatima Azeem, Bilal Adil and others also spoke at the occasion.