More UAE investments to flow into Pakistan
Envoy says prime minister’s visit has taken ties between the countries to a new level
Pakistan’s ambassador to the UAE expects more investments to flow into Pakistan following the visit of newly elected Prime Minister Imran Khan to the UAE last week.
“We are very positive and hopeful that more investments will flow into Pakistan following the visit of Pakistan Prime Minister to the UAE last week. The two sides have decided to take the relationship to the next level and expand it further in all areas including investment, trade, defence and security cooperation,” Moazzam Ahmad Khan told Gulf News in an exclusive interview.
Imran Khan visited the UAE on September 19 and held talks with His Highness Shaikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to further boost bilateral ties between the two countries.
Wide-ranging discussions
According to a joint statement issued by Pakistan and the UAE, the two sides discussed, among other things strengthening economic cooperation and increasing bilateral investments and exerting all possible efforts to eliminate obstacles and overcome difficulties that would obstruct the smooth flow of trade and investment between the two countries.
Ambassador Khan said the Pakistan Prime Minister was literally on a one-day tour starting with Saudi Arabia where he had fruitful and productive discussions with Saudi Crown Prince Mohammad Bin Salman.
“In the UAE, His Highness Shaikh Mohammad Bin Zayed was very kind and gracious to have received him at the airport. There were very productive and positive discussions followed by dinner.”
“The warmth and the closeness that you saw reflects the special relationship between these two countries which is not only an exemplary relationship, but it really is a peoplecentric relationship.”
“Both countries feel we really need to take this mutually beneficial relationship to the next level.”
Khan said trade between the two countries reached $8.6 billion (Dh31.59 billion) for the financial year 2017-18 compared to $6.2 billion in the previous financial year (2016-17).
There was $7.2 billion worth of exports from the UAE to Pakistan mostly consisting of oil and petrochemicals and exports from Pakistan touched $1.5 billion for 2017-18. “Total investment from the UAE is $3 to $4 billion including investments from Mubadala, DP World, Etisalat and others,” Ambassador Khan said.