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ISLAMABAD: Commerce Minister Syed Naveed Qamar on Thursday stressed the need to harness the potential to increase trade volumes between Pakistan and the United Arab Emirates (UAE).
During his meeting with the UAE Ambassador to Pakistan, Hamad Obaid Ibrahim Salem Al-Zaabi, the Minister of Commerce highlighted the great potential for cooperation between the two countries in the fields of renewable energy, agriculture, textiles, livestock, petroleum, oil and hospitality.
According to a press release from the Ministry of Commerce, the UAE ambassador said that Pakistan and the UAE share strong religious and historical ties and need to maintain resilience by strengthening bilateral trade.
Official data show that the UAE has become the main export market for Pakistani goods in the Middle East. However, exports to the UAE fell 17.80% to US$819.562 million in July FY23 from US$998.05 million a year earlier.
Of Pakistan’s total exports to the region, $746.395 million (nearly 65%) was exported to Dubai alone in the seven months of FY2023, while $833 million
It fell by 10.39% in the same period last year. The main products exported from Pakistan to the region include rice, beef carcasses and half carcasses, men’s/boys’ padded clothes, guava, mangoes, etc.
Posted by Dawn on March 10, 2023
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