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ABU DHABI – Prime Minister Mohammed Sheikh Baz Sharif has called on Emirati businessmen to take advantage of the huge opportunities in Pakistan, a market of over 220 million people that offers investors a strong and large consumer market.
“Energy, infrastructure, e-commerce, agribusiness and IT are all up for grabs,” he told Khaleej Times.
Sharif will visit the UAE for the third time after taking office in April 2022, and witnessed the signing of three memorandums of understanding between the diplomatic academies of the two countries in the fields of combating human trafficking, information exchange and cooperation.
Asked about the UAE-Pakistan trade relationship, Sharif pointed to official data released by the Pakistani government showing that bilateral trade with the UAE in 2021-22 had increased by 25.40 percent, equivalent to $10.6 billion, compared to the previous year.
However, Prime Minister Sharif said, “the current level of bilateral trade is still not a true reflection.”
“We want to further strengthen our existing economic, trade and investment relationships.”
“The average annual trade volume between the two countries amounts to $8 billion, making the UAE Pakistan’s largest trading partner in the MENA region,” the paper added.
In another question on new areas of cooperation, Sharif said, “We have found new avenues of economic cooperation, bringing our economic relationship on par with our good political relationship.”
He described information technology (IT), artificial intelligence (AI) and financial technology (Fintech) as “new areas of collaboration with greater potential”.
Responding to a question about the UAE’s humanitarian aid to flood victims in Pakistan, Prime Minister Sharif thanked the UAE for its “valuable and timely” humanitarian support to those affected by the floods. “The day the floods hit Pakistan, I received a call from His Highness Sheikh Mohamed bin Zayed, who said, ‘We will immediately start delivering relief supplies to the areas affected by the floods’,” he recalled.
Then an air bridge was built between Abu Dhabi and Pakistan, Islamabad; and the cities of Karachi, Badin, Shikapur in Sindh province.
Regarding the friendship between the UAE and Pakistan, Sharif explained that the foundation of these relations was laid by the late Sheikh Zayed bin Sultan Al Nahyan, who wanted Pakistan to become one of the leading, prosperous and progressive nations. “We will never forget his kindness and generosity.”
Shehbaz Sharif thanked the UAE government and its leadership when asked about the welfare of Pakistani expatriates, noting that the UAE is hosting and allowing 1.7 million Pakistanis to earn a living with dignity and respect in the country.
At the United Nations Climate Change Conference (COP28) to be held in November 2023, the Prime Minister of Pakistan wished the UAE success in hosting this important event, saying that “As part of its climate diplomacy, Pakistan will continue to contribute constructively to the global climate Change debate, negotiation and action.”
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