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Tuesday, 24 January 2012

UAE investment in Pakistan at $21bn - Emirates 24/7

Ambassador of the UAE to Pakistan Essa Abdullah Al Basha Al Nuaimi said close communication and coordination between government officials, businessmen and investors in UAE and Pakistan would pave the way for exploring more investment opportunities and propelling economic relations to the level of political and diplomatic bonds.

Addressing a gathering of CEOs and representatives of UAE investment in Pakistan on Monday, Al Nuaimi said current bilateral trade between the two countries stand at $7.6 billion, while 27 companies are operating in various sectors including telecommunications and aviation. The volume of the business in joint venture is $21 billion.

'The UAE firmly believes in the principles of importance of strengthening economic coordination with Pakistan as the later presents suitable environment ready for investment. The fruit of this interest was holding the conference on promoting investment in Pakistan' in March 2010. The ‘UAE Expo Magnificent 7' held in Karachi and it was honoured and inaugurated by Prime Minister Syed Yusuf Raza Gilani while the UAE delegation was led by Sheikha Luba Bint Khalid Al-Qasmi, the UAE Minister of Foreign Trade.