Pakistan offers a range of investment and trade opportunities especially in electricity, energy, telecommunication and transportation sectors, which have shown high profitability and business growth potential, said senior UAE and Pakistani diplomats.
This was stated at a meeting which was attended by Suhail bin Mattar Al Katbi, the UAE Consul General in Pakistan; Jamil Ahmed Khan, the Pakistani Ambassador in the UAE; and Mohamed Nasser Al Zaabi, the Director of the Trade Promotion Department at the Ministry of Foreign Trade; to discuss business and investment opportunities between the two countries.
The volume of foreign trade between the UAE and Pakistan amounted to $2.86 billion in 2010 at a growth rate of 9 per cent. Re-exports were worth $572 million while exports reached $511 million and imports $1.78 billion.
The meeting was held in preparation for the opening of the inaugural “Magnificent 7 UAE Expo” which will be held from November 30 to December 2, 2011 at the Expo Centre Karachi in Pakistan. The gathering was organized by the Ministry in cooperation with the UAE Consulate in Karachi and is part of a series of similar briefings that will take place in all the seven Emirates.
“Pakistan desires to strengthen its economic and trade relations with the UAE, and this exhibition is an ideal platform in this context. Karachi’s business community is closely following this upcoming event, which is a reflection of the positive outlook for trade relations between the two countries. The Ministry of Foreign Trade will discover many new opportunities through this important event,” said Jamil Khan.
Mohamed Nasser Al Zaabi, the Director of the Trade Promotion Department at the Ministry of Foreign Trade, pointed out that over the past few months business and government delegations from the two countries have exchanged visits to open up new commercial and investment opportunities and expand the scope of bilateral trade. He also revealed that the volume of trade exchange between the two countries is increasing steadily, reflecting future growth opportunities and underlining the importance of maintaining strong channels of communication between the countries’ investors.
Al Zaabi said the “Magnificent 7 UAE Expo” would provide a platform for enhancing bilateral trade, expanding investment horizons, supporting existing partnerships, and improving levels of communication at the business level. He added that the exhibition will also highlight the UAE’s economic and social contributions to Pakistan and celebrate the cultural, religious and geographical ties between the two countries.
The meeting was also attended by Ali Al Hamli, the Ministry’s Assistant Undersecretary for Support Services, alongside a number of other Ministry department heads.