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Dubai, January 6, 2025 — Pakistan’s Consul General in Dubai, Hussain Muhammad, has announced that the bilateral trade between Pakistan and the United Arab Emirates (UAE) holds the potential to triple from its current volume of approximately $8 billion.
Speaking at a ceremony honouring the newly elected office bearers of the Pakistan Business Council (PBC) in Dubai, Consul General Hussain Muhammad expressed optimism about the new leadership’s role in strengthening trade and business ties between the two nations.
Shabbir Merchant, the newly appointed chairman of the Pakistan Business Council Dubai, emphasized that future trade initiatives would align with modern economic demands, placing significant emphasis on startups.
Senior PBC members, Mustafa Hemani and Ahmed Sheikhani, advocated for a Comprehensive Economic Partnership Agreement (CEPA) to enhance trade relations. They highlighted that such an agreement could reduce tariffs on Made-in-Pakistan products, thereby boosting Pakistani exports.
The newly elected PBC body also announced plans to organize informative awareness sessions in Dubai for Pakistani entrepreneurs. These sessions aim to educate business owners about the tax system and provide guidance for those planning to start new ventures.
Also See: Pakistan extends warm greetings to UAE on National Day
Current Pak-UAE Trade Landscape
The UAE is Pakistan’s third-largest trading partner after China and the United States. In the fiscal year 2021-2022, the bilateral trade volume between the two countries was approximately $10.6 billion.
Pakistan’s exports to the UAE include textiles, food and agricultural products, meat and livestock, minerals, and surgical instruments. Despite this robust trade relationship, there remains significant untapped potential, particularly in sectors like information technology and olive production.
Challenges and Opportunities in Pak-UAE Trade
While the trade relationship is strong, challenges such as regulatory barriers, competition from other countries, and logistical issues persist. Addressing these challenges through initiatives like CEPA could pave the way for enhanced trade relations. Additionally, leveraging opportunities in e-commerce and value-added products can further boost Pakistan’s exports to the UAE.
Future Prospects
With proactive policy measures and strengthened business-to-business relations, the goal is to significantly increase the bilateral trade volume over the next decade. The establishment of a CEPA between Pakistan and the UAE is expected to play a pivotal role in achieving this target, fostering deeper economic integration and mutual prosperity.
