ISLAMABAD
\nPrime Minister Shehbaz Sharif has invited UAE businessmen to utilize the investment opportunities in Pakistan. In an interview with Khaleej Times, he said Pakistan offers a strong and large consumer market to investors especially in energy, infrastructure, e-commerce, agro-based industry and IT sectors.
\nTo a question about Pak-UAE trade relations, the Prime Minister said bilateral trade with the UAE has increased by 25 percent to 10.60 billion dollars and we look forward to further enhance it.
\nBesides meeting the UAE leadership, the prime minister also witnessed the signing of three memoranda of understanding in the fields of combating human trafficking, information exchange, and cooperation between the diplomatic academies of both countries.
\nAsked about the UAE and Pakistan trade relations, Prime Minister Shehbaz pointed out that the bilateral trade with the UAE had increased by 25.40% during 2021-22 as compared to the previous year, amounting to US$10.60 billion.
\nHowever, he said, \u201cthe current level of bilateral trade is still not a true reflection.\u201d \u201cWe are looking to further strengthen our existing economic, trade and investment ties.\u201d He said the average annual trade between the two countries stood at US$8 billion making the UAE the largest trading partner of Pakistan in the MENA region.
\nResponding to another query on new areas of cooperation, the prime minister said, \u201cWe find new avenues of economic cooperation to take our economic relations at par with our excellent political relations.\u201d He described Information Technology (IT), Artificial Intelligence (AI), and Financial Technology (Fintech) as new areas of collaboration with much greater potential.
\nAbout the UAE humanitarian aid to flood victims in Pakistan, Prime Minister Shehbaz thanked the UAE for its \u201cvaluable and timely\u201d humanitarian support for flood-affected people. \u201cThe day floods hit Pakistan I received a call from His Highness Sheikh Mohamed bin Zayed, who said, \u2018we will immediately start sending relief goods for the flood-affected areas\u2019,\u201d he recalled.
\nAnd then, he said, an air bridge was established between Abu Dhabi and Pakistan, and relief goods were sent to Islamabad, and different cities of Sindh including Karachi, Badin and Shikarpur.
\nOn the UAE and Pakistan friendship, the prime minister explained that the foundation of these relations was laid by the late Sheikh Zayed bin Sultan Al Nahyan, who wanted Pakistan to be among the leading, prosperous and progressive countries. \u201cWe will never forget his benevolence and generosity for all times to come.\u201d
\nShehbaz Sharif thanked the UAE government and its leadership when asked about the welfare of Pakistani diaspora, noting that the UAE was hosting and allowing 1.7 million Pakistanis to earn their livelihood in the country with dignity and respect.
\nOn UN Climate Change Conference (COP 28), which would take place in November 2023, the prime minister wished the UAE success in hosting this event, saying that \u201cas part of its climate diplomacy, Pakistan would continue to constructively contribute to global climate change debate, negotiations, and action.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Prime Minister Shehbaz Sharif has invited UAE businessmen to utilize the investment opportunities in Pakistan. In an interview with Khaleej Times, he said Pakistan offers a strong and large consumer market to investors especially in energy, infrastructure, e-commerce, agro-based industry and IT sectors. To a question about Pak-UAE trade relations, the Prime Minister said […]<\/p>\n","protected":false},"author":2,"featured_media":306802,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[69],"class_list":{"0":"post-308658","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-top-news","8":"tag-shehbaz"},"yoast_head":"\n