Home Views & Opinions Pak long-term strategic, economic and trade ties with UAE

Pak long-term strategic, economic and trade ties with UAE

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Relations between Pakistan and the United Arab Emirates are based on shared support and cooperation and it will moreover bolster in future.

The advancement, prosperity and good governance of United Arab Emirates serves an example in a short span of 47 years.

Relations between the two nations have changed into a long term tactical economic and trade participation through developing bilateral and enlarging relations in all division.

The economic and trade of the UAE was the proof of far-sightedness and imagination of the Gulf States’ leaders. Its leader Al Nahyan agreed a long-term strategic economic partnership.

They also agreed to further strengthen their cooperation to deal with organized crimes, including drug trafficking, money laundering and human trafficking.

Both Pakistan and UAE leaderships agreed to defence and security cooperation and decided to further cooperation in the areas of training, joint exercises and defence production.

Pakistan and UAE have vigorously criticize terrorism in all its forms and demonstration and declared their will to work closely to drive out this burden.

The UAE acknowledge efforts and matchless sacrifices made by Pakistan to eradicate terrorism and extremism.

After taking the charge in August, Prime Minister Imran Khan has visited the UAE twice. United Arab Emirates and Pakistan cordial ties are based on friendship reciprocal respect and cultural relationship and unity of interests have continued to move from strength since commencement.

Bilateral relations between two countries have moreover accelerated with the recent official visit of Prime Minister of Pakistan, Imran Khan.

During his day long visit to UAE, he met with various high officials and talked on different issues of mutual interest.

They seriously made a mandatory to foster trade and economic ties and eradicate all obstruction to flow of trade and investment between the two countries.

They restated their vow to remodel the existing special relations into a Strategic Long-Term Economic Partnership by choosing a straight forward, and clear approach.

Both agreed to plan out a comprehensive plan of measure to heighten cooperation and partnership in areas encircling trade, investment, economic development, energy, infrastructure and agriculture.

Prime Minister Khan and Crown Prince Muhammad bin Zayed decided to hold the next Pakistan-UAE Joint Ministerial Commission, to be co-chaired by the respective Foreign Ministers in Abu Dhabi in February 2019.

Prime Minister Imran Khan thanked the UAE and its leadership for their continued pledged to Pakistan’s social and economic development in the shape of Pakistan Assistance Programme.

He specifically thanked His Highness Sheikh Muhammad bin Zayed Al Nahyan for his support to eradicate polio from Pakistan.

Prime Minister Imran Khan apprised the UAE leadership about his government’s people reform agenda including the steps being taken to eradicate corruption and bolster transparency and accountability at all levels of government.

Pakistan repeated its readiness to actively participate in Expo 2020 and extend full support to the UAE in making this mega event a great success.

Pakistan provided UAE the facilities of its IT executive and experienced labour, in preparing for Expo 2020.

Recognizing the contribution of Pakistani professionals, experts as well as skilled and unskilled workers in the development of UAE, the two sides agreed to expand collaboration on all labour related issues.

Business and industrial community in the country has hoped that Prime Minister Imran Khan’s tour to United Arab Emirates would not only assist Pakistan boost its exports but would also explore new channel of bilateral trade.

It is anticipated that if steps are taken in the correct direction, the current trade volume of $8 billion between Pakistan and UAE would be outpaced in coming years.

It is significant to build on the landmark relationship between the two countries by expediting investors on both directions to make use of the business opportunities.

Both countries have strong and strategic alliance. It is estimated that around 1.6 million Pakistani community the largest Pakistani associates in the world lives and struggle in the UAE.

Their award from employment in the UAE amount to $433.42 million each year. In the same token Pakistan’s private sector has supplied in Dubai’s real estate sector.

UAE investments in Pakistan estimated at more than $3.9 billion. Pakistan exports $869 million cost of goods to the UAE, and imports goods price at $7.5 billion in return.

Pakistan’s exports to UAE comprises mainly rice, textiles and leather, which do not the appropriate possible of conveniences between the two countries.

Pakistan presents ample facilities for foreign direct investments and joint deal in infrastructure development, electricity generation, water desalination, agricultural based industries, insurance and real estate.

Pakistan enjoys cordial relations with United Arab Emirates. Both countries have collaborated with each other in difficult times

UAE has made extensive investments in Pakistan in different sectors, and in respond Pakistan also complied with UAE in diverse sectors. Pakistan prepared pilots of UAE and in other sectors as well.

United Arab Emirates and Pakistan are vital partners. Due to quickly changing socio-economic schemes and geopolitical direction in terms of global trade wars, economic protectionism, fragmentation of economic confideration, Yemen, Syria, Afghanistan, CPEC and BRI it is necessary that both friendly countries must restore practical vital partnership for the further bolstering of socio-economic amalgamation, greater food and energy preservation, better political consideration and in particular energy cooperation in the near future.

UAE has been one of the key investors in the country in its various sectors for instant infrastructure, real estate industry, banking, telecommunications, insurance, aviation and the energy.

 

UAE has more than GDP of $ 450 billion, 30 percent of which is at the same time from export of oil and petroleum products. About 70 percent of the revenue is being derived from tourism, transport, plastic industry, renewable sources of energy and financial services etc.

Its large economy outlook of 2018 and beyond is very sound and brilliant. A number of UAE companies are presently functioning in the country, as well as Emirates National Oil Company, International Petroleum Investment Company, Etisalat, Dana Gas, Al Ghurair, Emaar, DP World, Abraaj Capital, Thani, Danata, Atharihra Agricultural Company, Julfar, Emirates Investment Group, and Arab Company for Packaging and Al Nasser Holdings.
Pakistan must work at close range with the UAE government to accelerate export of fresh fruit and vegetable from Pakistan.

Government of Pakistan also conclude scheme to run a speed vessel from Karachi to Dubai to bring perishable items within two days lessening the prevailing sailing time of maximum eight days.

United Arab Emirates is a role exemplary for the regional as well as emerging countries in the world with respect to social and economic wealth, delight, advanced life, cohesion, law and order and variety of economy, energy and profitable channels.

The UAE GDP accelerated in excess of 236-fold from Dh6.5 billion in 1971 to Dh 1,540 billion in 2014 which has been further increased and improved owing to administration business deal and investment strategies.

It is ranked first with regard to, functioning and creation also. Vision 2021 has changed its economy and made it more appealing, original, aggressive and fresher.

Modification of economy, energy and production has already made its large scale economy strong and consistent.

Large scale industrialization, increase private sector, sound service sector, SMEs and strict commercial statesmanship has diminished the overflow effects of region and world’s fragile economic conditions.

Further, its stiff banking and financial sector provide the vital ease to finance many mega projects to generate more and more jobs.

UAE is the one of the lighted country in the GCC, MENA and the world which shows that it has economics of gladness where people always like over corporate gains.

Its unique social and economic development is upright and righteous. Its multifarious of economy and energy resources is smooth and moreover congenial.