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Pakistan Business Council, Dubai recently met Pakistan's Ambassador to the UAE Faisal Niaz Tirmizi to deliberate further on strengthening the business-to-business ties between both countries. In this respect, the country further strengthens the trade relationship, with the UAE standing as the third largest trading partner of Pakistan, after China and the US.
Apart from being a partner in trade, the UAE also happens to be a significant source of foreign investment for Pakistan, with an investment of more than $10 billion over the last 20 years. The UAE has more than a million Pakistani expatriates as well, which proves very strong people-to-people ties between the two countries. This available bond might be used further for co-operation and investment.
The head of the PBC delegation, Shabbir Merchant, shared their vision and strategy for bolstering business ties and asked for support from the ambassador to get these things done. The Pakistani ambassador assured the delegation that the embassy would be supportive in strengthening economic and trade relations between the two countries. This is a big step forward for increasing trade and investment between the two countries.
Pakistan and the UAE have been quite energetic about building up economic relations in recent years. Pakistan and the UAE signed more than $3 billion worth of agreements last January in cooperation with railways, economic zones, and infrastructure. That reveals a deepening commitment to mutual interest.
The PBC is playing a very important role in promoting the economic potential of Pakistan in the UAE. It is assisting companies and professionals associated with Pakistan to start businesses or work in the UAE through business networking and connections and information exchange. The PBC facilitates business-to-business ties, thereby increasing trade and investment between the two countries.
The economic relations of Pakistan and the UAE can help open avenues for growth and cooperation in various sectors, such as information technology, manufacturing, agriculture, and tourism. Collaboration by both countries would allow them to become more prosperous and developed in the economic world, thus leading to benefits to the citizens and the region in general.
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