Naveed for boosting trade with UAE

ISLAMABAD: Comm­erce Minister Syed Naveed Qamar on Thursday stressed the need to exploit the potential for boosting trade volume between Pakistan and the United Arab Emirates (UAE).

In a meeting with UAE Ambassador to Pakistan Hamad Obaid Ibrahim Salem Al-Zaabi, the commerce minister highlighted the huge potential for cooperation between the two countries in the field of renewable energy, agriculture, textile, livestock, petroleum, oils and hospitality sectors.

According to a commerce ministry press release, the UAE ambassador said Pakistan and UAE have strong religious and historical relations which need to be resilient through the enhancement of bilateral trade.

Official statistics indicate that the UAE has emerged as a major export market for Pakistani goods in the Middle East. However, the exports to UAE saw a decline of 17.80pc to $819.562m in 7MFY23 from $998.05m in the corresponding period last year.

Out of the total exports of Pakistan to the region, $746.395m or nearly 65pc went alone to Dubai in 7MFY23 against $833m

in the same period last year, a decline of 10.39pc.Pakistan’s top export products to the region include rice, bovine carcasses and half carcasses, men’s/boys’ cotton ensembles, guavas, mangoes, etc.