PM urges UAE businessmen to exploit immense business opportunities in Pakistan
By our correspondent
Islamabad
According to the sources of Daily Notable, Prime Minister Shehbaz Sharif urged UAE businessmen to take advantage of the huge opportunities in Pakistan, a market of more than 220 million people that offers its investors a strong and large consumer market. “Energy, e-commerce infrastructure, agro-based industries and IT sectors are up for grabs,” he told Khaleej Times during his visit to the UAE last week and published on Thursday.
In addition to meeting with the leadership of the UAE, the Prime Minister also witnessed the signing of three memorandums of understanding in the field of combating human trafficking, exchange of information and cooperation between the diplomatic academies of the two countries.
Asked about UAE-Pakistan trade relations, Prime Minister Shehbaz pointed out that bilateral trade with the UAE has increased by 25.40 percent in 2021-22 compared to the previous year, amounting to USD 10.60 billion. However, he said that “the current level of bilateral trade is still not a true reflection. “We seek to further strengthen our existing economic, trade and investment ties,” he said, adding that the average annual trade between the two countries stood at US$8 billion, making the UAE Pakistan’s largest trading partner in the MENA region.
Responding to another question about new areas of cooperation, the prime minister said: “We are finding new avenues of economic cooperation to bring our economic relations to the level of our excellent political relations.” He described information technology (IT), artificial intelligence (AI). and financial technology (Fintech) as new areas of cooperation with much greater potential.
Regarding the UAE’s humanitarian assistance to flood victims in Pakistan, Prime Minister Shehbaz thanked the UAE for its “valuable and timely” humanitarian support to the flood-affected people. “The day Pakistan was hit by floods, I received a call from His Highness Sheikh Mohamed bin Zayed who said, ‘We will immediately start sending relief goods to the flood-affected areas,’” he recalled. based between Abu Dhabi and Pakistan and relief goods were sent to Islamabad and various cities of Sindh including Karachi, Badin and Shikarpur.
On the UAE-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.
“We will never forget his benevolence and generosity for all times to come.” Shehbaz Sharif thanked the UAE government and its leadership when asked about the welfare of the Pakistani diaspora, noting that the UAE hosts and enables 1.7 million Pakistanis to earn on a living country with dignity and respect.
At the UN Climate Change Conference (COP 28) to be held in November 2023, the Prime Minister wished the UAE success in hosting the event and said that “as part of its climate diplomacy, Pakistan will continue to contribute constructively to the global climate. to change debate, negotiation and action’. – PUNA
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