Pak-UAE bilateral relations progressing steadily
Islamabad—Pakistan was the first country to accord
formal recognition to UAE on its achieving independence while
bilateral relations and mutually beneficial cooperation have
progressed steadily ever since.
This was stated by Muhammad Ijaz Abbasi, President of Islamabad
Chamber of Commerce and Industry while exchanging views with Hisham
Al Shirawi, second Vice Chairman, Dubai Chamber of Commerce and
Industry during his recent visit to Dubai at the head of an ICCI
He said Pakistan and the UAE enjoy extremely close and fraternal
relations, founded on deep-rooted cultural affinities, shared faith
and traditions, as also geographic proximity and identity of
He said these relations date back to the UAE’s formation in 1971,
and have since evolved into wide-ranging cooperation, particularly
in economic field.
The ICCI President said UAE is the one of the largest economic and
trading partners of Pakistan and has been a major donor of economic
assistance to Pakistan.
He said a large number of Pakistani expatriates, are gainfully
employed in UAE and they have contributed significantly to the
promotion of bilateral understanding and to the economy of Pakistan
through their home remittances.
He said trade between the two countries is on the rise as trade
volume which was $1.4 billion in 1999-2000 increased to $2.8 billion
in 2004-2005, depicting 20 per cent growth per year while it has
crossed $5 billion in 2007.
Muhammad Ijaz Abbasi highly appreciated the role of UAE investors in
promoting Pakistan’s economy.
He said UAE leading corporate entities like Etisalat, Warid, Wateen,
Bank Al Falah, Dubai Islamic Bank, Emirates Global Islamic Bank, Al-Ghurair
Giga, Emaar etc. have made billion of dollars investment in
Pakistan’s telecom, banking and construction & real estate
industries respectively while Al-Ghuran another UAE based real
estate giant which plans to invest Rs.45 billion in construction and
real estate business Pakistan and other UAE investments in Pakistan
are in the fields of airlines, financial business, hotels and
He said these investors are not only earning high returns on their
investments, they are also providing plenty of job opportunities to
Pakistan’s human resource talent.
The ICCI President said many Pakistani investors have also invested
in UAE, particularly in real estate and construction sectors, which
shows that business to business relations between the two countries
are increasing between both countries. He said to further promote
these business relations, ICCI had proposed Dubai Chamber of
Commerce for signing of MoU which will be signed in near future and
expressed his hope that it will further cement our economic
Muhammad Ijaz Abbasi said Pakistan is an agricultural country and it
offers vast investment opportunities in this field.
He said UAE is developing very fast and it will not more food
products to meet its rising food products needs.—APP