Pakistan recently imported $6.2 billion in products from the United Arab Emirates, up from $5.1 billion the previous year, representing a 3.72% growth.

As per the latest data issued by the State Bank of Pakistan (SBP) on Tuesday, China headed the list of countries from which Pakistan imported various items within the first eleven months of the fiscal year (2020-21), with Singapore ranking third.

Total imports from China were $11,454.962 million in July-May (2020-21) vs $8,255.990 million in July-May (2019-20), representing a 38.74% rise over the period, according to SBP.

As per SBP statistics, Pakistan imported products worth $2,769.481 million from Singapore, up from $2,148.135 million the previous year, representing a 28.92% increase.

Among many other countries, Pakistani imports from the United States of America (USA) were $2,198.657 million compared to $2,039.000 million last year, representing a 7.83% spike whereas imports from Saudi Arabia were $2,106.018 million compared to $1,250.810 million last year, portraying a 68.37% increase as per the data.

Imports from Kuwait totaled $1,167.003 million vs $984.636 million, while imports from Malaysia totaled $1,094.860 million versus $863.411 million last year.

During the period July-May, imports from South Korea totaled $1,183.695 million vs $672.884 million, imports from Japan totaled $1,372.124 million versus $972.550 million, and imports from Switzerland totaled $1,010.711 million versus $566.923 million. Furthermore, imports from Germany were $1,018.080 million vs $868.437 million during the observation period, and imports from Thailand were $961.741 million versus $657.015 million.

Pakistan's imports from Qatar totaled $1,129.656 million in the current fiscal year, up from $1,542.071 million last year, while imports from the United Kingdom totaled $682.009 million, up from $629.280 million.

The Pakistan Business Council in Dubai recently held its second trade session with Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, to evaluate new business prospects, increasing bilateral trade volume between the UAE and Pakistan, and capitalizing on the Expo 2020 possibility.

The minister had been accompanied by Afzaal Mahmood, Pakistan's Ambassador to the UAE, and numerous Pakistani businessmen and individuals living in the UAE. “We are willing to give full help to Pakistani firms in permitting 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 established on a long history, trust, and respect, and commerce that has grown even though the world's tough situations.

“Pakistan is one of our top 25 strategic global trade partners. In terms of imports, the UAE is Pakistan's second-largest trading partner. Both nations however have made considerable investments in many sectors of each other's economies, including real estate. The UAE recently adopted legislation allowing 100% foreign ownership, which has boosted economic activity and been praised 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 explore multiple business possibilities and methods to enhance commerce between both nations. We collaborate with the UAE in that spirit. The Pakistani government has launched several measures attempting to attract international investors to invest in domains such as tourism, agriculture, fashion, and hospitality in Pakistan.”

“Pakistan would 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 learn all there is to know about Pakistan's history, culture, agriculture, tourism, and hospitality. We welcome more Pakistani firms to come forth and register for the expo.”