Pak­istan and UAE ex­plor­ing trade

Enterprise - - Bilateral -

The trade sta­tis­tics for the past many years re­veal an en­cour­ag­ing trend in the bi­lat­eral trade be­tween Pak­istan and the UAE. The his­toric re­la­tion­ship be­tween the two coun­tries, par­tic­u­larly in trade and in­vest­ments, has grown man­i­fold over the last few years and the UAE has emerged as the sin­gle largest in­vestor in Pak­istan which can be at­trib­uted to the vi­sion­ary lead­er­ship and the dy­namic role of for­eign diplo­matic mis­sions in both coun­tries.

Pak­istan’s exports to the UAE were val­ued at more than $ 2 bil­lion while imports from the UAE are ap­prox­i­mately US $ 3.3 bil­lion. Trade vol­ume be­tween the two coun­tries has dou­bled dur­ing the last decade but due to oil imports, UAE en­joys a trade sur­plus with Pak­istan val­ued at $ 1.3 bil­lion.

The phe­nom­e­nal in­vest­ment plans by the UAE Groups in var­i­ous prop­er­ties and in­dus­trial projects also sig­nal the dawn of a new era of for­eign di­rect in­vest­ment in Pak­istan. The State Bank of Pak­istan and the Board of In­vest­ment have in­di­cated tremen­dous in­vest­ment op­por­tu­ni­ties for the UAE in core ar­eas of in­fra­struc­ture de­vel­op­ment, elec­tric­ity gen­er­a­tion, and water de­sali­na­tion, pro­vid­ing tech­nol­ogy for agri­cul­tural en­hance­ment and also for pro­cess­ing and pack­ag­ing of agri­cul­tural goods for ex­port. The fis­cal years of 2008, 2009 and 2010 have wit­nessed en­cour­ag­ing for­eign di­rect in­vest­ments of $ 592.2, $ 178.1, $ 243.1, re­spec­tively.

On the same pat­tern, Pak­istan has also in­vested in the UAE in UBL, HBL, HBL AG Zurich, Schon Prop­er­ties, GIGA Group, PIA, etc.

The Com­mer­cial Ser­vices sec­tion es­tab­lished at the con­sulate of UAE in Karachi in 2010 is aimed at fa­cil­i­tat­ing the trade and in­vest­ment re­la­tion­ship be­tween UAE and Pak­istan

Pres­i­dent Asif Ali Zar­dari with Sheikh Mo­ham­mad bin Rashid Al Mak­toum, Prime Min­is­ter of the UAE

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