DUBAI, 15th December, 2021 (WAM) — Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, has called for joint business ventures to boost UAE-Pakistan trade.
While chairing the Sindh Investment Conference held as part of Pakistan’s participation at Expo 2020 Dubai, Sheikh Nahyan said, "We learn from each other to improve on economic front and endeavour to enhance trade and investment. The UAE and Pakistan work together to ensure regional security and economic development as successful economy is fundamental to regional growth."
He also congratulated the Pakistan government for building Pakistan Pavilion at Expo 2020 Dubai that highlights its culture, values and future aspirations. He mentioned that Pakistan and the UAE have been strong trade and business partners.
Also present on the occasion were Dr. Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, Sheikh Ahmed Dalmook Al Maktoum and Afzaal Mahmood, Pakistani Ambassador to the UAE.
The UAE is Pakistan’s largest trading partner in the Middle East and a major source of investments and remittances. The trade volume between the two countries amounted to around US$8.19 billion (AED30 billion) in 2019.
Also present were heads of specialised trade sections from the Sindh Investment Department, Government of Sindh and a large number of Pakistani business community based in the UAE.
The conference, organised by Badar Expo Solutions, was addressed by eminent business leaders and senior Sindh government officials, followed by a panel discussion about the emerging role of public private partnerships and investment opportunities in Sindh.
Bilawal Bhutto, Chairman of Pakistan Peoples Party (PPP), said, "Pakistan, particularly Sindh province, is open to investors from around the world. We are particularly looking for investment in infrastructure development in Karachi – the largest city of Pakistan."
"We have introduced a one-window operation for investors and 10-year tax-free business in the special free zones," Bilawal said, adding that the Sindh government has developed a wide range of business plans for the Private Public Partnership (PPP).
For his side, Ahmed Shaikhani, President of Pakistan Business Council, said, "I must appreciate the organisers Badar Expo Solutions who gathered an elite business community from both countries and decision-makers, providing a result-oriented business platform to network, grow and create more job opportunities." He thanked the Pakistani business community based in the UAE for being part of a new journey. "I wish the organisers achieve their objective of connecting business decision-makers from both countries."
Six Memorandums of Understanding (MoUs) were signed on the occasion that include Pakistan’s public and private sector to boost business activities, collaborations and supporting the startup ecosystem in Pakistan.