Pakistan and UAE exploring trade
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