Plans are to get initiated for Pak-UAE Joint Business Council

Pakistan’s UAE ambassador Syed Faisal Niaz Tirmizi announced plans are being planned to establish the PAK-UAE Joint Business Council. The aim of this council is to enhance direct trade relations between Pakistan and the United Arab Emirates. Faisal Niaz was handling the dual charge of the Additional Secretary Administration and Americas in the Ministry of Foreign Affairs. He is well-versed in handling the highly tensed situations and matters of bilateral, multilateral, consular and administration.

He said in an interview that to nurture the collaboration and mutual investment opportunities they would include members from the Federal Chamber of Commerce of Pakistan and the UAE’s Chamber of Commerce. This plays an important part to build strong connections between the business chamber members. This is a strategic initiative to strengthen the economic ties and promote bilateral trade.

“Our aim is to attract Emirati businessmen to invest in Pakistan, which has immense potential for growth” said the Pakistan Ambassador, Faisal Niaz during the discussions with Emirati authorities.

Both the governments of Pakistan and the United Arab Emirates formed this PAK-UAE Joint Business Council with the support of the Chambers of Commerce and business communities. The members of this council are from various sectors which includes trade, investment, energy and infrastructure. It provides opportunities and a platform for the representatives of both the countries to foster economic cooperation and business relations.This council also promotes investment projects, joint ventures, and other efforts which elevates the development of both the nations. 

Previously, the Pakistan Business Council (PBC) was established at Sharjah Chamber of Commerce, this year, which is worth $40 billion for increasing trade. The Chairman of  PBC, Syed Muhammad Tahir told that,

“We will support the Pakistani business community at both the business and private levels, and organise trade visits, business-to-business meetings and exhibitions to promote and develop Pakistani exports for new markets.

Currently, the bilateral trade volume between UAE and Pakistan is around $7 billion and our target is to reach $40 billion within the next three financial years.”