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KARACHI, 7th April (DNA) — Fakhruddin Diwan, Chairman of the Pakistan-UAE Business Council and a prominent member of the Dawoodi Bohra community, appreciated the fact that the UAE has always supported Pakistan in times of need; specifically, they are increasing their foreign exchange reserves to meet international IMF conditionality and its role in avoiding multiple defaults in Pakistan’s history.
But he proposed that in the context of a huge bilateral trade deficit of $6 billion with the UAE, Pakistan should ask the UAE government to facilitate Pakistani exports to the UAE; set up industrial joint ventures in Pakistan and encourage its citizens to invest in the Pakistani economy. This will help Pakistan a lot on a sustainable basis in terms of bridging the trade deficit; supporting economic growth and creating jobs in local labour-intensive industries.
Fakhruddin Diwan particularly appreciated the very active role played by UAE Consul General HE Bakheet Ateeq Al Remeithi in building people-to-people and business-to-business relations between the two brotherly countries. He was also informed that the UAE has been supporting the business, trade and business activities of the Dawoodi Bohra community in the UAE.
Fakhruddin Diwan also highlighted the UAE’s friendly role following last year’s floods; providing employment opportunities for Pakistan’s skilled and semi-skilled workforce; supporting Pakistan in international forums and strategically and decisively standing by Pakistan’s side in all times of economic crisis. — DNA
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