Envoy invites delegation from UAE Chambers to visit Pakistan
- 12 Oct 2024
Gulf Today, Staff Reporter
Ambassador Tirmizi congratulated Al Zaabi on his appointment. He also appreciated the visionary initiatives of the UAE leadership and contributions of ADCCI in economic development of the UAE through facilitation and support of business entities.
Enhancement of collaboration between UAE Chambers with Pakistani Chambers of Commerce and Industries and establishment of B2B joint ventures for enhancement of trade between the two brotherly countries were also discussed during the meeting.
Tirmizi briefed the Chairman regarding Pakistan’s investment regime and initiatives of the government for facilitation of foreign investors. He briefed about potential investment sectors of Pakistan including IT, food and agriculture, textile, leather, tourism, and infrastructure etc.
Tirmizi reiterated the invitation to business delegation from UAE Chambers to visit Pakistan. Both the sides agreed on the enhancement of economic and commercial cooperation between the two brotherly countries through trade facilitation, B2B engagements and mutual exchange of delegations and participation in trade fairs and exhibitions including GITEX and TEXPO.
In a separate development, the Embassy of Pakistan, in collaboration with Bank of Punjab, organised a webinar on the Roshan Digital Account (RDA). This initiative aligns with the Government of Pakistan’s policy to provide its citizens abroad with easy and efficient access to Pakistan’s banking channels.
Key speakers included Ambassador Tirmizi; Syed Ali Raza, Head of PRI; Nofel Daud, Chief Digital Officer at BoP; Salman Saeed, Head of Home Remittance, RDA & FDA Division; and Suneel Sarfraz Munj, Founder and CEO of PakWheels.
Highlighting the RDA’s success in the UAE, Tirmizi emphasised the RDA’s role in offering efficient banking and investment opportunities to expatriates, significantly contributing to Pakistan’s economic growth and financial inclusion of overseas Pakistanis.
The RDA is a flagship initiative of the State Bank of Pakistan, launched in collaboration with commercial banks, offering Non-Resident Pakistanis (NRPs) and Pakistan Origin Card (POC) holders the ability to easily manage their banking, payments, and investment activities in Pakistan.
It was revealed that UAE-based RDAs make up more than 25% of the total accounts. Since the initiative’s launch, Overseas Pakistanis have invested $8.6 billion through RDA, with $6.1 billion repatriated by account holders. The Bank of Punjab also introduced facilities like Roshan Apna Ghar and Roshan Apni Gari.
The event was attended by Pakistani community members and business leaders from across the UAE, reflecting the ongoing commitment to strengthening ties between overseas Pakistanis and the homeland.
Recently, Hussain Muhammad, Consul General of Pakistan, was the Chief Guest at Chinar Business Conference held at Pakistan Association Dubai (PAD). The event was arranged to bring together industry leaders and professionals from various sectors and provide networking opportunities to businessmen and entrepreneurs.
Speaking on the occasion, the Consul General said that the global business landscape has witnessed unprecedented changes in recent years. He said that technology, digitisation, and the rise of new economic models have transformed the way businesses operate due to which new sectors are emerging with incredible potential for growth and innovation. Hussain emphasised that such events allow us to engage in meaningful discussions, explore new business opportunities, and stay informed about the latest trends shaping economies and trade.
Underlining the significance of Pakistan-UAE bilateral ties, the Consul General said that the relationship between Pakistan and UAE was built on the foundation of mutual respect, cooperation and friendship. “As expatriates, it is essential that we show our respect for the local laws and be fully compliant to the rules,” added Hussain.
Assuring the business community of all-out support, the Consul General said, “We are here to facilitate your endeavours. I am confident that by working together, we can transform challenges into opportunities and unlock even greater potential in the years to come.”
The event was presided over by Amjid Kabir, President Pak-Chinar Wing, PAD. Dr Faisal Ikram, President PAD, Ali Zeb Khan, Trade & Investment Counsellor, Sheikh Muhammad, Dubai Municipality and many UAE based business community members also attended the event.