LAHORE (Special Correspondent) – President of the Lahore Chamber of Commerce and Industry (LCCI), Ali Hussam Asghar, on November 3, called for stronger trade and investment relations between Pakistan and the United Arab Emirates (UAE), urging greater business-to-business interaction and joint initiatives to expand economic cooperation. He emphasised Pakistan’s vast investment opportunities for UAE investors.

Key Points

• LCCI President Ali Hussam Asghar advocated for stronger Pakistan-UAE trade and investment relations.
• Pakistan offers significant investment opportunities due to its large consumer market and skilled workforce.
• Promising sectors for cooperation include agriculture, IT, textiles, and value-added manufacturing.
• Both nations stressed greater business-to-business interaction and regular exchange of trade delegations.
• UAE Ambassador Salem Mohammed Al Zaabi expressed confidence in future economic ties.

Mr. Asghar expressed these views during a meeting with Salem Mohammed Al Zaabi, Ambassador of the United Arab Emirates to Pakistan, where matters of mutual interest and opportunities for expanding bilateral commercial relations were thoroughly discussed.

Boosting Pakistan-UAE Economic Ties

The LCCI President reiterated that Pakistan and the UAE share longstanding friendly relations, which provide a robust foundation for further economic cooperation. He asserted that closer engagement between the business communities of both nations could unlock new avenues for trade, investment, and mutually beneficial partnerships.

Mr. Asghar highlighted that Pakistan offers considerable investment opportunities for foreign investors, attributed to its large consumer market, industrial capacity, skilled workforce, and entrepreneurial potential. He extended an invitation to UAE investors to actively explore business opportunities in Pakistan and to develop partnerships with local companies.

Key Investment Sectors Identified

During the discussion, Ali Hussam Asghar identified several promising sectors for bilateral cooperation, including agriculture, food processing, textiles, information technology, construction, logistics, minerals, and value-added manufacturing. He suggested that joint ventures and investment partnerships in these areas could significantly contribute to industrial growth, employment generation, and broader economic development.

Strengthening Business-to-Business Engagement

To further bolster economic ties, the LCCI President proposed enhanced business-to-business (B2B) interaction, regular exchanges of trade delegations, and frequent meetings between the chambers of commerce and other business organisations of both countries. He stressed that direct engagement between entrepreneurs and investors could effectively help identify potential partners, understand market requirements, and develop sustainable commercial ventures. He also noted that closer institutional cooperation between the Lahore Chamber and UAE business organisations, through joint business forums, trade exhibitions, investment conferences, and sector-specific meetings, could provide companies from both countries with opportunities to explore new markets and establish long-term commercial relationships.

The LCCI President affirmed that the Lahore Chamber was fully prepared to facilitate UAE investors by connecting them with relevant Pakistani businesses, providing essential market information, and assisting them in exploring investment prospects across various sectors of the economy.

UAE Ambassador Expresses Confidence

In response, Ambassador Salem Mohammed Al Zaabi acknowledged the strong brotherly relations between Pakistan and the UAE, noting the considerable potential to further expand economic cooperation. He expressed a strong desire to see increased interaction between the business communities of both countries, viewing direct business-to-business contacts as an effective mechanism for developing new commercial opportunities.

The UAE Ambassador conveyed his confidence in the future trajectory of Pakistan-UAE economic relations, concluding that closer cooperation between the two nations would undoubtedly benefit their respective business communities.

Frequently Asked Questions

What investment opportunities does Pakistan offer to UAE investors?

Pakistan offers significant investment opportunities for UAE investors due to its large consumer market, industrial capacity, skilled workforce, and entrepreneurial potential.

Which sectors are highlighted for Pakistan-UAE bilateral cooperation?

Key sectors identified for Pakistan-UAE bilateral cooperation include agriculture, food processing, textiles, information technology, construction, logistics, minerals, and value-added manufacturing.

How do both countries plan to strengthen economic cooperation?

Both countries plan to strengthen economic cooperation through greater business-to-business interaction, regular exchanges of trade delegations, joint investment initiatives, and institutional cooperation via business forums and trade exhibitions.