ISLAMABAD: Pakistan’s ambassador to the UAE, Faisal Niaz Tirmizi, has called for UAE chambers of commerce to increase collaboration with Pakistani counterparts and set up business-to-business joint ventures for the enhancement of trade and investment between the two countries, Islamabad’s embassy in Abu Dhabi said on Wednesday.
The issues were discussed during a meeting between Tirmizi and Ahmed Jasim Al Zaabi, the chairman of the Federation of UAE Chambers of Commerce and Industry (UAE Chambers) and the Abu Dhabi Chamber of Commerce & Industry (ADCCI). Zaabi is also the chairman of the Abu Dhabi Department of Economic Development (ADDED) and the Abu Dhabi Global Market (ADGM).
“Enhancement of collaboration between UAE Chambers with Pakistani Chambers of Commerce and Industries and establishment of B2B joint ventures for enhancement of trade between the two brotherly countries were also discussed during the meeting,” the Pakistani embassy said after the meeting between the two officials.
“Tirmizi briefed Zaabi regarding Pakistan’s investment regime and initiatives of the government for facilitation of foreign investors.”
The envy also briefed the UAE official about potential investment sectors in Pakistan including IT, food and agriculture, textile, leather, tourism, and infrastructure. He also reiterated the invitation to a business delegation from the UAE Chambers to visit Pakistan.
“Both the sides agreed on the enhancement of economic and commercial cooperation between the two brotherly countries through trade facilitation, B2B engagements and mutual exchange of delegations and participation in trade fairs and exhibitions including GITEX and TEXPO,” the Pakistan embassy said.
Last year, Pakistan set up the Special Investment Facilitation Council, a body comprising Pakistani civilian and military leaders and specially tasked to promote investment in Pakistan. The council is so far focusing on investments in the energy, agriculture, mining, information technology and aviation sectors and specifically targeting Gulf nations.
Pakistan’s UAE envoy calls for collaboration between commerce chambers, B2B joint ventures
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Pakistan’s UAE envoy calls for collaboration between commerce chambers, B2B joint ventures
- Pakistani ambassador Faisal Niaz Tirmizi meets Ahmed Jasim Al Zaabi, chairman Federation of UAE Chambers of Commerce
- Tirmizi briefed Zaabi regarding Pakistan’s investment regime and initiatives by the government for facilitation of foreign investors
Pakistan president meets UAE counterpart, explores trade, investment opportunities
- Asif Ali Zardari is in UAE on four-day visit to strengthen bilateral ties, review bilateral cooperation
- Both sides discuss regional, international developments, reaffirm commitment to promote peace
ISLAMABAD: President Asif Ali Zardari met his UAE counterpart Sheikh Mohammed bin Zayed Al-Nahyan in Abu Dhabi on Tuesday during which both sides explored new opportunities in trade, investment, energy and other sectors, Zardari's office said.
Zardari arrived in Abu Dhabi on Monday evening with a high-level delegation on a four-day official visit to the UAE to review trade, economic and security cooperation.
"The leaders discussed ways to further deepen the longstanding and brotherly relations between Pakistan and the UAE," a statement from Zardari's office said about his meeting with the UAE president.
"They reviewed the full spectrum of bilateral cooperation and explored new opportunities in trade, investment, energy, infrastructure, technology, and people-to-people exchanges, highlighting the significant potential for expanding economic and strategic partnership.
Zardari highlighted the significance of Al-Nayhan's visit to Pakistan last month, the statement said, expressing appreciation for the UAE's continued support for strengthening bilateral ties.
It said both sides also exchanged views on a range of regional and international developments, reaffirming their commitment to promoting peace, stability and sustainable development.
The meeting was also attended by Pakistan's First Lady Aseefa Bhutto-Zardari, the Pakistani president's son Bilawal Bhutto-Zardari, who is also the chairman of the Pakistan Peoples Party, Interior Minister Mohsin Naqvi and Pakistan's ambassador to the UAE.
ZARDARI MEETS AD PORTS CEO
Zardari earlier met AD Ports Group CEO Captain Mohamed Juma Al-Shamisi to discuss the group's investment initiatives in Karachi.
"Both sides agreed that the expansion and modernization of port infrastructure would strengthen trade flows and support Pakistan’s broader economic development and country’s seaborne trade," the President's Secretariat said in a statement.
It added that Zardari described the AD Ports Group's long-term investment and expanding role in Pakistan's maritime and logistics sector as a key pillar of Pakistan–UAE economic cooperation.
Pakistan and the UAE maintain close political and economic relations, with Abu Dhabi playing a pivotal role in supporting Islamabad during periods of financial stress through deposits, oil facilities and investment commitments.
The UAE is Pakistan's third-largest trading partner, after China and the United States, and a key destination for Pakistani exports, particularly food, textiles and construction services.
The Gulf state is also home to more than 1.5 million Pakistani expatriates, one of the largest overseas Pakistani communities in the world, who contribute billions of dollars annually in remittances, a crucial source of foreign exchange for Pakistan’s economy.
Beyond trade and labor ties, Pakistan and the UAE have steadily expanded defense and security cooperation over the years, including military training, joint exercises and collaboration in counter-terrorism and regional security matters.
