Pakistan, U.A.E need to strengthen bilateral economic and trade relations: Analysts
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ISLAMABAD: UAE is as politically and economically important country as Saudi Arabia and China for Pakistan. UAE could support Pakistan in establishing industrial zones.
The bilateral relations between the United Arab Emirates and Pakistan have acquired new dimensions at all political, economic and social levels emerging into trust-worthy strategic partnership and are still continuing. In Pakistan, UAE surely has encouraged investment and helps in greater trade and commerce activities. UAE is one of largest investors in Pakistan but bilateral trade has been steadily growing over years and people-to-people contacts are constantly on increase.
Pakistan offers vast opportunities for foreign direct investments and joint ventures in infrastructure development, electricity generation, water desalination, agricultural based industries, insurance and real estate.
Pakistan enjoys cordial relations with United Arab Emirates. Both countries have cooperated with each other in their need of hour. UAE has made huge investments in Pakistan in different fields, and in reciprocate, Pakistan also cooperated with UAE in various fields. Pakistan trained pilots of UAE and in other sectors as well.
Dubai is a regional trade center and has become financial hub of the region. It was the first country in the region which opened its real sector for other countries. Prime Minister Imran’s visit to UAE is of great importance. Imran Khan wants to enhance trade relations with UAE.
Pakistan is huge potential for foreign investments and foreign investors should be given incentives for investment. Pakistan community working in foreign countries should also play their role as ambassadors of country. Dubai and Karachi are financial hubs of the region.
It is high time for Pakistan to increase foreign remittances to overcome financial crisis. Foreign investment, exports play an important role in building economy of the country. It is expected that a remarkable economic package would be extended by UAE to Pakistan. However, it is to be noted that economic packages are always a short term solution to overcome economic crisis. Concrete measures should be take to attract foreign investments in the country.
Industry, agricultural and I.T sectors need more attention of the incumbent government. Pakistani business community should take active part in Annual Investment Meetings and Expo 2020 in UAE to explore possibilities for enhancing their business prospects. The exchange of business delegations was important to explore new avenues of cooperation.
Undoubtedly, Pakistan Rangers and other law enforcement agencies played a vital role for restoring peace in Karachi. The security of KPK should also be handed over to Rangers and should be provided with special powers to cope with the menace of terrorism.
The nation has extended unflinching support to our forces that have played vital role in the maintenance and restoration of lasting peace in the country. It is the responsibility of every citizen to sacrifice their lives for the sake of country and play role against those who worked on foreign agenda.
APP