Prime Minister's Visit To UAE To Tap New Avenues In Bilateral Trade

SAARC Chamber Commerce and Industry (SCCI), Senior Vice President, Iftikhar Ali Malik Saturday said that Prime Minister Imran Khan's tour to United Arab Emirates (UAE) would help boost Pakistan's export besides exploring new trade potential between the two countries.

ISLAMABAD, (UrduPoint / Pakistan Point News - 17th Nov, 2018 ) :SAARC Chamber Commerce and Industry (SCCI), Senior Vice President, Iftikhar Ali Malik Saturday said that Prime Minister Imran Khan's tour to United Arab Emirates (UAE) would help boost Pakistan's export besides exploring new trade potential between the two countries.

The visit would prove beneficial for Pakistan and UAE and if steps were taken timely in right direction then the current trade volume of $8 billion between the two countries would be surpassed in coming years, he added.

In his statement issued here, he said at this juncture, we were able to build on the historic relationship by encouraging investors on both sides to make use of the business and cooperation opportunities.

He also proposed having a dialogue with the business community in both the countries and make room for having more agreements to launch new initiatives.

Iftikhar Malik made it clear that Pakistan should take steps in direction of minimizing trade deficit between both the countries and focus on those items which would be exported to this brotherly Islamic country.

He said that imports from UAE to Pakistan increased last year from $6.62 billion to $7.23 billion whereas exports from Pakistan to UAE has decreased about 1.83 per cent from $1.08 billion to $1.06 billion.

He further said traditional and historical relationship was the foundation of our future cooperation and both the countries initiated work on a framework to boost trade and investment and to avoid double taxation.

Appreciating Prime Minister Imran Khan's sincere efforts to increase Pakistan's export besides steering the country out of the current fiscal crisis, he said the whole nation was standing with the government at this crucial time and the business community would support its economic initiatives.

He said that it was good omen that Prime Minister got excellent response during his maiden visits to China and Saudi Arabia.

He said that entire business community had already reposed full confidence on the top leadership of PTI led government for its initiatives to quick uplift of the down trodden besides facilitating the traders for addressing their all genuine grievances on top priority.