Islamabad: President, Pakistan Business Forum (PBF) Khawaja Mehboob ur Rehman has hailed the announcement of the United Arab Emirates (UAE) investment of $10 billion for Pakistan in promising economic sectors.
Speaking on Tuesday, the Chairman of PBF said that he appreciates the development journey of the UAE and Pakistan wants to strengthen friendship and expand cooperation with the UAE and expand the regional economy, trade and investment cooperation.
The UAE is home to 1.8 million Pakistanis who contribute to the development, prosperity and economic growth of the two sister countries.
In that case, the Chairman of PBF emphasized the need to increase cooperation between the two countries to connect people in the field of aviation and tourism.
PBF also announced that by 2022, the UAE will export goods worth $5.8 billion to Pakistan. The main exports from the UAE to Pakistan are Crude Oil ($2.29 billion), Refined Oil ($1.3 billion) and Propylene Polymer ($212 million).
Similarly, Pakistan exports goods worth $2.58 billion from the UAE in 2022. Pakistan’s main exports are Refined Oil ($1.07 billion), Rice ($235 million) and Beef ($165 million). Pakistan’s exports to the UAE have grown at an annual rate of 4.5 percent over the past 19 years, from $1.12 billion in 2003 to $2.58 billion in 2022.
The President invited the Pakistan Business Forum as well as Abu Dhabi Chamber of Commerce Chairman Abdullah Muhammad Almazrui and CEO Ahmed Khalifa Al Qubaisi to visit Pakistan with their delegation to explore bilateral trade avenues.
