KARACHI: Pakistan has close economic ties with the UAE and there is massive potential to further these links, particularly in the startup space, said Dubai chamber’s CEO and president in an exclusive interview with Business Recorder.
H.E. Hamad Buamim heads the Dubai Chamber of Commerce and Industry - a non-profit public organisation that looks after the interests of the business community in Dubai. He told Business Recorder that trade volume between the two countries hit more than $8 billion in 2019, making the UAE Pakistan’s biggest trade partner in the Middle East and Northern Africa region.
The UAE is also one of the biggest foreign investors in Pakistan and Dubai accounts for a large share of the UAE’s non-oil trade with Pakistan – at almost $4 billion.
Pakistan companies are well represented within Dubai’s business community, operating in a wide variety of sectors, such as real estate, finance, industrial machinery, automobiles, education, media, and technology.
Additionally, the Pakistan Business Council in Dubai, established under the umbrella of the Dubai chamber, is a business policy advocacy platform with 600 members that includes Pakistani businesspersons, investors and professionals based in the UAE. It plays a crucial role in promoting trade and investment between business communities in Pakistan and the UAE, said Buamim.
There are more than 15,000 Pakistani companies registered with the Dubai Chamber. Shining light on how this relationship can be expanded,...
Read Full Story: https://www.brecorder.com/news/40150931
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