Dubai, UAE – UAE and Pakistan have discussed ways to enhance trade and investment cooperation in areas of mutual interest.
Thani bin Ahmed Al Zeyoudi, the UAE Minister of State for Foreign Trade met with Syed Naveed Qamar, Federal Minister for Commerce of Pakistan in Dubai, and noted that the UAE is Pakistan’s leading investment partner in the region and fifth globally, based on figures released at the end of 2021.
He also mentioned that total Emirati investments in Pakistani markets have exceeded AED 9 billion (US$ 2.5 billion), encompassing a wide range of economic and trade activities, including the energy, telecommunications, information technology, financial services, insurance, construction, oil, and natural gas sectors.
Al Zeyoudi said that the ministerial meeting with the Pakistani delegation presents a significant opportunity to strengthen cooperation between the UAE and Pakistan.
This will lead to an increase in trade and investment exchange, encourage their business communities to boost their investments, and enable them to benefit from promising investment prospects in each other’s markets.
He also mentioned that the UAE was Pakistan’s leading trade partner in the region in 2021.
In 2022, their non-oil foreign trade reached AED 25.7 billion ($7 billion), a 30 percent increase compared to AED 19.8 billion ($5.4 billion) in 2021.
The UAE accounts for over 40 percent of Pakistan’s trade with Arab countries, with non-oil exports from the UAE to Pakistan valued at nearly AED 4.8 billion ($1.3 billion) in 2022.
Additionally, re-exports from the UAE to Pakistan amounted to AED 10.6 billion (US$ 2.9 billion), reflecting a 7.7 percent growth compared to 2021.