On Tuesday evening, the Pakistan Business Council in Dubai hosted the second trade session with Dr. Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, to discuss new business models, increasing bilateral trade volume between both the UAE and Pakistan, and capitalizing on the Expo 2020 opportunity.

The minister was joined by Afzaal Mahmood, Pakistan's Ambassador to the UAE, and numerous Pakistani businessmen and businesswomen living in the UAE.

“We are willing to give full help to Pakistani firms in enabling more Pakistani entrepreneurs and business people to explore the potential accessible in the UAE market,” Dr. Al Zeyoudi stated. He further said that the UAE and Pakistan have strong bilateral connections built on a long history, trust, and respect, and trade that has grown even though the world's difficult times.

“Pakistan is one of the top 25 critical global trade partners for us. The UAE is Pakistan's second-largest trading partner in terms of imports. Both nations have also made considerable investments in many sectors of each other's economies, including real estate. The UAE recently introduced a 100% foreign ownership rule, that has boosted economic activity and has been lauded by the global business community,” Dr. Al Zeyoudi said.

The minister and the Pakistan Commercial Council met for the first time in the first week of May 2021 to examine multiple business possibilities and methods to enhance commerce between the two nations. The conference was effectively ended with a resolve to increase UAE-Pakistan trade volume from about Dhs30 billion ($8.19 billion in 2019) to double it across the following five years.

“Our two economies complement each other, but we need to understand where value-added advantage resides and how we can help each other,” Mahmood said, highlighting Expo 2020 big potential for businesses. We collaborate with the UAE in that spirit. The Pakistani government has launched several measures aimed at attracting international investors to invest in industries such as tourism, agriculture, fashion, and hospitality in Pakistan.”

“Pakistan shall participate in Expo 2020 Dubai with a pavilion themed ‘Pakistan: The Hidden Treasure,' and we urge everybody to come and visit,” he said. “You will get to know about Pakistan's history, culture, agriculture, tourism, and hospitality. We encourage more Pakistani firms to come forward and register for the expo.”

According to Ahmed Shaikhani, President of the Pakistan Business Council in Dubai, there are several chances for both countries to work and strengthen current relations. Both countries have previously agreed to collaborate in areas such as agritech, healthcare and wellness, manufacturing, logistics, information technology, and food security because “Pakistan also has wealth of experience in the agriculture sector that we can share with our UAE partners.”

The Pakistan Business Council in Dubai Board of Directors recently met with Dr. Thani Bin Ahmed Al Zeyoudi at the Ministry's headquarters in Dubai.

The parties addressed different economic prospects and strategies to improve commercial relations between the UAE and Pakistan.

The Pakistan Corporate Council in Dubai, a company policy advocacy platform comprising 600 business members, has expressed gratitude to the UAE for its support of the Pakistani business sector and pledged to increase commerce between the two nations.

Pakistan's greatest commercial partner in the Middle East, and a key source of investment and remittances, is the United Arab Emirates. In 2019, the two nations' trade volume was around USD 8.19 billion.

Ever since its foundation in 2004, the Pakistan Business Council in Dubai has played a critical role in bringing the business communities of Pakistan and the UAE closer. The Council was established and authorized by the Dubai Chamber with the goals of promoting trade, commerce, and mutual investments between Pakistan and the UAE.

The Managing Director and Group CEO of Abu Dhabi National Exhibition Centre (Adnec), Afzaal Mahmood and Humaid Matar Al Dhaheri, lately discussed bilateral cooperation, especially the coordination between ADNEC and the Trade Development Authority of Pakistan (TDAP).

Pakistan's involvement in ADNEC-organized events, such as SIAL 2021, had also been discussed during their latest meeting.

The two countries decided to step up collaboration in terms of enhancing Pakistan-UAE commercial and investment ties.