Minister for Commerce urges strengthening trade ties with UAE

Syed Naveed Qamar, the federal minister for commerce, emphasized the importance of increasing the volume of bilateral trade between Pakistan and the United Arab Emirates (UAE).

The minister emphasized that there was enormous potential for cooperation between the two countries in the fields of renewable energy, agriculture, textiles, beef meat, petroleum oils, and the hospitality industry during a meeting with UAE Ambassador to Pakistan, Hamad Obaid Ibrahim Salem Al-Zaabi. Additionally, he noted that in FY-2022, the value of trade between the two nations was only US$ 10,033.05 million. The trade involved exports worth US$1369.83 million to the UAE and imports worth US$8663.22 million. According to him, the current trade volume needs to be increased because it falls short of both countries’ actual potential.

UAE ambassador agreed with the minister’s point of view and said Pakistan and UAE have religious, durable, historical, and cooperative relations which needed to be enhanced with bilateral trade.

Meanwhile, Commerce Minister Syed Naveed Qamar has stated that economic stabilization and economic growth are the key priorities of government. Talking to Member of British Parliament and British Prime Minister’s Trade Envoy, Mark Eastwood, who called on him in Islamabad, he expressed the confidence that the country would achieve economic stability in near future.

Appreciating Mark Eastwood’s efforts for enhancement of bilateral trade between Pakistan and the UK, Syed Naveed said Pakistan honors trustworthy relations between the two countries. He said there is a great potential for investors in the fields of education, health, energy, textile and other sectors.

The British Trade envoy said Pakistan and the UK are enjoying durable, historical and cooperative relations which needs to be resilient through the enhancement of bilateral trade.