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The newly established Pakistan Business Council at the Sharjah Chamber of Commerce and Industry has set an ambitious target to elevate Pakistan’s bilateral trade volume with the UAE. This goal was announced by the council’s head in an exclusive interview with Arab News.
The Pakistan Business Council, launched to foster stronger economic ties between Pakistan and the UAE, represents a strategic effort to enhance trade relations and explore new business opportunities. With a focus on expanding bilateral trade, the council aims to leverage both countries’ economic strengths and foster greater collaboration in various sectors, including trade, investment, and technology.
In the interview, the council’s head emphasized that achieving this $40 billion target will require concerted efforts from both governments and the private sector. “We are committed to working closely with our UAE counterparts to remove trade barriers, streamline business processes, and create a more favourable environment for cross-border trade,” he said. The council will also focus on promoting Pakistani exports to the UAE and attracting UAE investments into Pakistan.
The UAE is already a significant trading partner for Pakistan, with robust trade ties encompassing a range of goods and services. In recent years, bilateral trade between the two countries has seen considerable growth, but the new target reflects a desire to further deepen and expand these economic connections. Both nations are keen to capitalize on their complementary economic sectors, with Pakistan offering opportunities in textiles, agriculture, and pharmaceuticals, while the UAE presents strengths in energy, finance, and technology.
The Pakistan Business Council plans to implement various initiatives to support its goal. These include organizing trade missions, facilitating business matchmaking events, and providing support for Pakistani companies looking to enter the UAE market. Additionally, the council will work on enhancing infrastructure and regulatory frameworks to simplify trade procedures and encourage investment.