$4.4 billion non-oil trade between the UAE and Pakistan
Al Zeyoudi: The UAE's transition to a flexible and sustainable model opens up great opportunities for investors
Al Zeyoudi participated in a business session organized by the Pakistan Business Council in Dubai.
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Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, affirmed full readiness to provide full assistance to members of the Pakistan Business Council, to enable Pakistani entrepreneurs and businessmen to explore the many attractive opportunities available in the UAE market, stressing that the UAE's transition to a new economic model is flexible. And sustainability, opens great opportunities for businessmen and investors.
business partnership
In statements on the sidelines of the second commercial session, which was organized by the Pakistan Business Council in Dubai, Al Zeyoudi said that Pakistan is among the 25 most important trading and strategic partner countries of the UAE, pointing out that the country in terms of imports is the second largest partner for Pakistan, at a time when The volume of non-oil bilateral trade between the two countries was $4.4 billion in 2020.
He added that the UAE is Pakistan's third most important global trading partner, accounting for more than 8% of its foreign trade, and the UAE is one of Pakistan's five most important export destinations, and the first in the Arab world.
In terms of mutual investments between the two countries, the value of direct Pakistani investments in the UAE amounted to more than 2.3 billion dollars at the end of 2019, while the direct investment of the UAE in Pakistan amounted to 4.4 billion dollars at the end of 2018, and it is currently in the fourth place among the investing countries in the Pakistani markets.
enhance cooperation
Al Zeyoudi stressed the UAE's keenness to enhance cooperation with Pakistan in the field of food and agriculture, in light of the great potential of the agricultural sector in Pakistan, and the strategic crops it produces such as rice, and its large livestock wealth.
In his speech during the session, he pointed out that the UAE is one of the proactive players in the world in terms of digitizing public services.
He stressed that the country's digital readiness played a major role in enabling it to respond quickly and adapt to the challenges posed by the "Corona" pandemic, noting that the field of digitization opens opportunities and prospects for joint cooperation between the UAE and Pakistan.
He added that the UAE's transition to a new economic model that is flexible and sustainable, opens up great opportunities for businessmen and investors from all over the world, noting that the real estate sector in the UAE is full of many investment opportunities.
«Expo 2020 Dubai»
For his part, Pakistan's Ambassador to the country, Afzal Mahmud Mirza Mahmood, in his speech during the session, referred to the great opportunity presented by "Expo 2020 Dubai" for companies, pointing out that his country will participate in a pavilion under the slogan: "Pakistan: Hidden Treasure".
In turn, Ahmed Sheikhani, Chairman of the Pakistan Business Council in Dubai, said that the opportunities and areas for enhancing cooperation between the two countries are many and promising in several sectors, including: technology, agriculture, health care, welfare, manufacturing, logistics, information technology and food security.
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