Pakistan and UAE to work on new ‘economic roadmap’. Here is what we know so far
Khan said that the meeting's main focus was to establish ways to enhance bilateral trade, alliances, and joint ventures in different sectors.
Pakistan and the United Arab Emirates (UAE) are working on a new economic roadmap to increase bilateral trade volume and create joint ventures between the two countries’ businesses and commerce chambers.
The news was announced by the Islamabad Chamber of Commerce & Industry (ICCI) President, Sardar Yasir Ilyas Khan, who met with the Emirati Ambassador to Pakistan, Hamad Obaid Ibrahim Salem Alzaabi, last week.
“We want to create a new economic roadmap with the UAE for enhancing bilateral trade, manufacturing via joint ventures, alliances, and exchange of services.”
“As the next step to this meeting, we are going to the UAE next month for a meeting with the Emirati Chamber of Commerce and other officials. We are also going to ask the Emirati government via the chamber to facilitate us in business visas,” he informed.
Khan said that the meeting’s main focus was to establish ways to enhance bilateral trade, alliances, and joint ventures in different sectors.
“Our bilateral trade is only $14 billion, which is much less than its actual potential,” Khan said in an interview with the Arab News.
“Both states have potential in multiple things like hospitality, retail, services, and manufacturing. We’re working to find the missing areas so that we can fill those gaps to boost bilateral trade,” he said.
Khan also added that many international brands based in the UAE were not present in Pakistan, so both sides could potentially collaborate to bring them here.
“There are various companies in the UAE that are operating in the manufacturing of tiles and many other products. Their distribution is going via the Europeans and Chinese.”
“We’re looking at the prospects of getting distribution of such companies to bring their products and services to Pakistan,” he added.
He also said many big hotel chains based in UAE could be brought to Pakistan to boost the tourism sector.
What are your views on this? Share with us in the comments below.