Officials during the meeting | Image Courtesy: WAM
UAE Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi has discussed ways to enhance trade and investment cooperation in areas of mutual interest with Mr. Syed Naveed Qamar, Federal Minister for Commerce of Pakistan.
During the meeting, Dr. Al Zeyoudi emphasized the strong and longstanding relationship between the UAE and Pakistan, which is experiencing continuous growth in the areas of trade and investment due to the leadership’s commitment to strengthen ties.
The meeting was attended by economic officials from both countries. Mr. Al Zeyoudi pointed out that the UAE is Pakistan’s leading investment partner in the region and fifth globally, based on figures released at the end of 2021.
Dr. Thani bin Ahmed Al Zeyoudi UAE Minister of State for Foreign Trade
“The total Emirati investments in Pakistani markets have exceeded $2.5 billion (AED 9 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. 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.”
Mr. Al Zeyoudi also mentioned that the UAE was Pakistan’s leading trade partner in the region in 2021. In 2022, their non-oil foreign trade reached $7 billion (AED 25.7 billion), a 30 percent increase compared to $5.4 billion (AED 19.8 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 $1.3 billion (AED 4.8 billion) in 2022. Additionally, re-exports from the UAE to Pakistan amounted to $2.9 billion (AED 10.6 billion), reflecting a 7.7 percent growth compared to 2021, as per the reports.
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