Businessmen have welcomed the announcement from the United Arab Emirates (UAE) of a $10 billion investment in Pakistan’s promising economic sectors.
Talking to APP on Tuesday, Pakistan Business Forum (PBF) President Khawaja Mehboobur Rehman commended the UAE’s development journey and emphasised Pakistan’s commitment to strengthening its friendship with the Gulf Arab nation and expanding cooperation, especially in economic, commercial and investment spheres.
“This huge investment is a proof of foreign investors’ confidence in efforts to revamp Pakistan’s economy,” he remarked.
The UAE is home to 1.8 million Pakistanis who are contributing to the development, prosperity and economic growth of the two countries. In this regard, the PBF president suggested that there was a need to further increase cooperation in the fields of aviation and tourism to increase people-to-people contacts.
Pakistan’s exports to the UAE have grown at an average annual rate of 4.5% over the last 19 years, increasing from $1.12 billion in 2003 to $2.58 billion in 2022. The PBF president invited the Abu Dhabi Chamber of Commerce chairman and CEO to visit Pakistan to explore avenues for bilateral trade.
Published in The Express Tribune, May 29th, 2024.
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