UAE second largest investor in Pakistan, says envoy

Bilateral trade and investments has reached $21 billion

UAE Ambassador to Pakistan Essa Abdullah Al Basha Al Nuaimi UAE has underscored the depth of bilateral relations between the UAE and Pakistan, describing them as excellent and based on common history, religion and culture.

He congratulated in an interview with both Pakistani newspapers The Nation and Nawa-i-Waqt published today, President Asif Ali Zardari and people of Pakistan on the occasion of Independence Day of Islamic Republic of Pakistan, wishing more progress and prosperity to Pakistan.

The UAE envoy said Pakistan was the first country to recognise the formation of the UAE's Union, citing the cooperation ties between the two countries, especially in the areas of economy, trade and social care.

Following are the excerpts of the interview:

Q: A large number of Pakistanis are working in UAE. Do you intend to import more Pakistani workers?

A: The UAE is keen to make more progress and development and to benefit from manpower in friendly countries including Pakistan for several reasons.

And there is a desire to attract more manpower from Pakistan according to the needs of local market, as they contribute effectively to the developmental process in the UAE and activate the remittances sector, which also contribute to the recovery of the economy of Pakistan.

On the other hand, the people from all over the world travel to UAE and there are about 202 nationalities engaged in all business and investment activities.

There is a law regarding employment such as labour laws in the UAE which give guarantees and protect their rights and provide them with all the circumstances and possible means under a framework in well-organised manner.

Q: Is UAE ready to invest more in Pakistan in various fields?

A: UAE is the second largest investor in Pakistan.

The bilateral trade and investments in Pakistan has reached $21 billion in various areas of banking and real estate, energy, infrastructure, telecommunications, ports, housing and aviation, and the two sides are taking interest to hold international expos and joint investments in both countries for the development of this sector and the promotion of economy.

The UAE is the first country which had organised a conference to promote investment in Pakistan and that was in Dubai in March 2010.

[FILE/Image via Shutterstock]

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