LCCI hails UAE president's visit as new era
The Lahore Chamber of Commerce and Industry (LCCI) has hailed United Arab Emirates (UAE) President Sheikh Mohammed bin Zayed Al Nahyan's visit as a pivotal moment for strengthening Pakistan-UAE bilateral relations.
"This visit is a monumental step toward fostering trade, attracting investment, and revitalising Pakistan's economy," said LCCI President Mian Abuzar Shad, alongside Senior Vice President Engineer Khalid Usman and Vice President Shahid Nazir Chaudhry.
The LCCI leadership highlighted the UAE's role as one of Pakistan's top trade and investment partners. Bilateral trade has reached significant levels, with Pakistan exporting textiles, rice, fruits, vegetables, and leather products to the UAE, while importing petroleum products, machinery, aluminium, and chemicalshighlighting the UAE's importance in meeting Pakistan's industrial and energy needs.
President Al Nahyan's commitment to investing $10 billion in Pakistan across various sectors was lauded as a transformative initiative. "This visit represents an extraordinary opportunity to enhance economic collaboration. His leadership can drive advancements in energy, technology, and agriculture," said the LCCI president.
The LCCI outlined several areas for deeper cooperation. Investments in renewable energy projects, including solar, wind, and hydropower, could address Pakistan's energy crisis while reducing fossil fuel dependency. Collaborative ventures in modern farming and agri-processing were identified as ways to improve food security and boost agricultural exports.
Tourism and hospitality development were also highlighted as untapped areas, with the potential to attract UAE visitors and promote cultural exchanges. The LCCI also urged UAE investors to explore Pakistan's Special Economic Zones (SEZs), which offer strategic opportunities to establish industrial bases and leverage regional connectivity.
Acknowledging the 1.6 million Pakistani expatriates in the UAE, the LCCI underscored their role as a bridge between the two nations. Remittances from the UAE contribute significantly to Pakistan's foreign exchange reserves, and the visit is expected to deepen people-to-people ties and cultural understanding.
The LCCI commended the UAE's consistent financial and humanitarian support during challenging times and expressed optimism that the visit would lead to new trade agreements, increased investments, and collaborative projects to address Pakistan's economic challenges.
"This visit signifies a turning point in Pakistan-UAE relations. It offers immense potential to boost trade, attract investment, and promote sustainable growth," the LCCI leadership said, hoping for actionable outcomes and a strengthened economic partnership.