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ISLAMABAD: President Dr Arif Alvi has urged the early finalization of the Comprehensive Economic Partnership agreement with the UAE to enable Pakistan to increase exports.
He also stressed the need to explore new avenues for economic diplomacy and investment with the UAE.
He said trade between Pakistan and the UAE could be further increased from the current level of $10.6 billion to make it commensurate with our good relationship and close geographical location.
The president made the remarks on Monday while speaking with Faisal Niaz Tirmizi, Pakistan’s ambassador-in-waiting to the UAE.
“There is huge potential for cooperation between the two countries in areas such as renewable energy, commerce, industry, infrastructure development and hospitality,” he noted. He also spoke about the huge Pakistani workforce employed in the UAE.
“The 1.6 million Pakistani diaspora in the UAE is an asset that plays an important role in the progress and development of both countries. Pakistani diaspora remittances of $5.814 billion in 2021-22 have greatly helped Pakistan overcome foreign exchange needs ,” he added.
The President thanked the UAE government for providing assistance to flood victims in Pakistan, including 57 humanitarian aid flights and two ships carrying relief supplies. He also praised the UAE’s support for Pakistan at the FATF and IMF, as well as the UAE government’s $2 billion deposits to boost Pakistan’s liquidity and foreign exchange reserves.
He expressed satisfaction with the US$2.9 billion in foreign direct investment by the UAE in Pakistan and said there is a need to increase this investment in the future.
Mr Alvi asked the ambassador-designate to digitally connect the Pakistani diaspora with Pakistani online higher education institutions such as AIOU and Virtual University, help them improve their digital skills, and take high-value courses to enhance their competencies and skills, which will help to increase their income.
He highlighted the Prime Minister’s DigiSkills training programme, which can be rolled out among the diaspora to equip them with the requirements of a developed economy.
The President also advised the envoy to make UAE leaders aware of the growing number of Islamophobia cases in Indian society and their pursuit of Hinduism, which is endangering the lives of minorities, especially Muslims.
Posted in Dawn, October 18, 2022
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