LAHORE:
The Lahore Chamber of Commerce and Business (LCCI) has hailed United Arab Emirates (UAE) President Sheikh Mohammed bin Zayed Al Nahyan’s go to as a pivotal second for strengthening Pakistan-UAE bilateral relations.
“This go to is a monumental step towards fostering commerce, attracting funding, and revitalising Pakistan’s economic system,” mentioned LCCI President Mian Abuzar Shad, alongside Senior Vice President Engineer Khalid Usman and Vice President Shahid Nazir Chaudhry.
The LCCI management highlighted the UAE’s position as one in every of Pakistan’s prime commerce and funding companions. Bilateral commerce has reached vital ranges, with Pakistan exporting textiles, rice, fruits, greens, and leather-based merchandise to the UAE, whereas importing petroleum merchandise, equipment, aluminium, and chemical compoundshighlighting the UAE’s significance in assembly Pakistan’s industrial and power wants.
President Al Nahyan’s dedication to investing $10 billion in Pakistan throughout numerous sectors was lauded as a transformative initiative. “This go to represents a rare alternative to reinforce financial collaboration. His management can drive developments in power, expertise, and agriculture,” mentioned the LCCI president.
The LCCI outlined a number of areas for deeper cooperation. Investments in renewable power tasks, together with photo voltaic, wind, and hydropower, may handle Pakistan’s power disaster whereas lowering fossil gas dependency. Collaborative ventures in fashionable farming and agri-processing have been recognized as methods to enhance meals safety and increase agricultural exports.
Tourism and hospitality improvement have been additionally highlighted as untapped areas, with the potential to draw UAE guests and promote cultural exchanges. The LCCI additionally urged UAE traders to discover Pakistan’s Particular Financial Zones (SEZs), which supply strategic alternatives to determine industrial bases and leverage regional connectivity.
Acknowledging the 1.6 million Pakistani expatriates within the UAE, the LCCI underscored their position as a bridge between the 2 nations. Remittances from the UAE contribute considerably to Pakistan’s international trade reserves, and the go to is predicted to deepen people-to-people ties and cultural understanding.
The LCCI recommended the UAE’s constant monetary and humanitarian help throughout difficult occasions and expressed optimism that the go to would result in new commerce agreements, elevated investments, and collaborative tasks to handle Pakistan’s financial challenges.
“This go to signifies a turning level in Pakistan-UAE relations. It gives immense potential to spice up commerce, entice funding, and promote sustainable progress,” the LCCI management mentioned, hoping for actionable outcomes and a strengthened financial partnership.