Envoy invites UAE to invest in CPEC

Published: February 15, 2017
An ariel view shows the Burj Khalifa, the world's tallest tower, dominating the Dubai skyline. PHOTO: AFP

An ariel view shows the Burj Khalifa, the world's tallest tower, dominating the Dubai skyline. PHOTO: AFP

ISLAMABAD: Pakistan would be pleased if the UAE could benefit from the CPEC project, as it was a win-win situation for all countries in the region, said Pakistan’s Ambassador to UAE Moazzam Ahmed Khan.

According to the Pakistani embassy in UAE the ambassador stated this in an interview. He spoke about how both countries could benefit from the China Pakistan Economic Corridor (CPEC), a part of China’s ambitious One Belt, One Road multi-billion dollar initiative, and also part of Pakistan’s Vision 2025.

Iran, Saudi Arabia eager to join CPEC

The envoy said that Pakistan and China were working on huge projects on infrastructure, roads and railway networks. Most importantly, both countries are also investing in the energy sector.

He described it as an ideal investment opportunity for Emirati investors, Moazzam noted that the UAE was the second largest Gulf Cooperation Council (GCC) trade partner of Pakistan, with a trade surplus of US$5 billion.

Moreover, Pakistani nationals send US$4.5 billion in remittances each year from the UAE to their home country.

“The UAE is already one of the main investment partners in Pakistan. In fact, according to some estimates, it is the third largest investor,” the ambassador said, “So there will be huge opportunities coming from this project, for all countries of the region.”

Our bets on CPEC may not necessarily pay off

He said in the last few years, UAE companies have invested billions of dollars in all major sectors, particularly banking, infrastructure and communications.

These sectors, the envoy said, provide ample opportunities for further investment, as Pakistan’s fast-expanding economy expects to achieve 5.5% GDP growth this year.

Published in The Express Tribune, February 15th, 2017.

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Reader Comments (8)

  • wiserneighbour
    Feb 15, 2017 - 9:32AM

    already China is dumping enough crap in Dubai and lots of Africans , Central Asians flock to buy these craps.Now what UAE will achieve by dumping more Chinese crap which piles up in their ports? More business? UAE realised it’s follies long back.Recommend

  • Syed
    Feb 15, 2017 - 9:44AM

    “Pakistani nationals send US$4.5 billion in remittances each year from the UAE to their home country”.
    And the horrible condition of Pakistan consulate in Dubai is a is a testimony to the overseas Pakistanis. No Que system, No proper seating arrangement, No clean Toilets, No AC in Summer, No Online facilities and no complaint center. The staff is unprofessional and don’t even know how many days are in February..Recommend

  • wiserneighbour
    Feb 15, 2017 - 10:25AM

    recently I saw on social media the image of a pakistani passport page where it’s validity endorsed by UAE embassy up to 30.02.2017.Pathetic state of affairs.Recommend

  • Hayat
    Feb 15, 2017 - 2:26PM

    At 35% annual returns, anybody will invest.Recommend

  • ali
    Feb 15, 2017 - 2:32PM

    its direct competition with uae why would uae invest in cpec, pak has mortgaged the entire Pakistan to china, they will never make this blunder. India is their country whom they love , trust and want to work with just today they launched the satellite for uae Recommend

  • Shaukat
    Feb 15, 2017 - 3:00PM

    After IMF and China, UAE is the next loan destination.Recommend

  • Prada
    Feb 15, 2017 - 3:37PM

    I would love to the picture of the middle east after 20 years of low oil prices.Recommend

  • Yom
    Feb 16, 2017 - 8:37AM

    India is an insecure nation, that’s for sure.Recommend

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