Hamad Obaid Alzaabi, Ambassador of the United Arab Emirates, said that the United Arab Emirates wants to further develop trade relations with Pakistan, as both countries have a wide margin to promote trade in many areas.
He said Pakistan and the United Arab Emirates should focus on developing a 10-year roadmap to benefit from potential areas of mutual cooperation. He said the Pakistani business world should actively participate in the annual investment meetings and Expo 2020 in the UAE to explore ways to improve their business outlook. He spoke during his visit to the chamber at the Chamber of Commerce of the Islamabad Chamber of Commerce and Industry.
The Minister said that the UAE would host the first international level “Expo 2020”, in which 100 countries would participate, and stressed that the private sector of Pakistan should participate in this Expo to explore business opportunities. He said that hundreds of Pakistani companies are doing business successfully in the UAE’s free economic zones and should invest more in this zone, which offers an attractive investment environment.
He said the exchange of economic delegations was important to explore new ways of cooperation and assured that he would work with ICCI to promote connectivity between private sectors in both countries.
In his welcoming address, Sheikh Amir Waheed, President of the Chamber of Commerce and Industry of Islamabad, said Pakistan and the United Arab Emirates have a friendly relationship, but bilateral trade of over $ 8 billion does not reflect the real potential of both countries. He emphasized that both countries should focus on fostering a strong link between private sector and a frequent exchange of trade delegations that would help to further improve the current volume of bilateral trade.
He said that Pakistan and the United Arab Emirates should focus on establishing strong links between their young entrepreneurs by setting up platforms such as youth and women’s councils to promote sustainable trade and economic relations between the two countries.
He said Pakistan offers enormous investment opportunities to investors in the UAE in various economic sectors, including infrastructure development, power generation, water management and agroindustry, and they should visit Pakistan to explore JVs and investments. He said many areas such as aluminum products, horticulture, agriculture, dairy cattle, livestock, finance, ready-made houses and affordable low-income homes have good prospects for joint ventures and urged that both countries strengthen SME cooperation.
Muhammad Naveed vice president and Nisar Ahmed Mirza vice president ICCI stressed for regular interaction between Chamber and UAE embassy to explore areas for the improvement of bilateral trade and economic relations. Mehfooz Elahi, Ejaz Abbasi, Khalid Malik, Shakeel Munir, Ms Fatima Azeem, Bilal Adil and others also spoke on this occasion.
Originally published by NNI