Sheikh Nahyan calls for joint ventures to boost UAE-Pakistan trade
- Last updated: December 15, 2021 | 20:04
Gulf Today, Staff Reporter
Sheikh Nahyan Bin Mubarak Al Nahyan, UAE Minister of Tolerance and Coexistence has congratulated the Pakistan government for building Pakistan Pavilion at Expo 2020 Dubai that highlights its culture, values and future aspirations.
While chairing the Sindh Investment Conference held as part of Pakistan's participation at Expo 2020 Dubai, Sheikh Nahyan said, "We learn from each other to improve on economic front and endeavour to enhance trade and investment. The UAE and Pakistan work together to ensure regional security and economic development as successful economy is fundamental to regional growth."
He also congratulated the Pakistan government for building Pakistan Pavilion at Expo 2020 Dubai that highlights its culture, values and future aspirations. He mentioned that Pakistan and the UAE have been strong trade and business partners.
Sindh, with Karachi as its provincial capital which is the country’s busiest business hub, along with a deep-sea port linking it to the Arabian Sea, has a massive investment potential for the UAE and GCC countries. It has the potential to boost the bilateral trade, investment and tourism between the UAE and Pakistan.
That was the crux of speeches at the Sindh Investment Conference held in Dubai.
Bilawal Bhutto Zardari, Chairman of Pakistan Peoples Party (PPP), said: “Pakistan, particularly Sindh province, is open to investors from around the world. We are particularly looking for investment in infrastructure development in Karachi—the largest city of Pakistan,” said Bilawal while speaking at the concluding session of the Sindh Investment Conference in Dubai, held as part of Pakistan’s participation at Expo 2020 Dubai.
“We have introduced a one-window operation for investors and 10-year tax-free business in the special free zones,” Bilawal added. He said that the Sindh government has developed a wide range of business plans for the Private Public Partnership (PPP).”
Also present on the occasion were Dr Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, Sheikh Ahmed Dalmook Al Maktoum and Afzaal Mahmood, Pakistan ambassador to the UAE.
The UAE is Pakistan’s largest trading partner in the Middle East and a major source of investments and remittances. The trade volume between the two countries amounted to around $8.19 billion (Dhs30 billion) in the year 2019.
Also present were heads of specialised trade sections from the Sindh Investment Department, Government of Sindh and a large number of Pakistani business communities based in the UAE.
Murad Ali Shah, Chief Minister of Sindh, said: “Sindh has an insatiable appetite for growth and expansion. The primary objective of today’s gathering is to explore further business opportunities between businesses in Sindh and the UAE, inviting investors, attracting FDI and showcasing Sindh in its entirety and unique tourism potential.”
The conference, organised by Badar Expo Solutions, was addressed by eminent business leaders and senior Sindh government officials including Qassim Naveed Qamar, Special Assistant to Chief Minister on Investment and Public-Private-Partnership (PPP) and the Secretary Investment Department Bilal Ahmed, Director General of a public-private-partnership unit of Government of Sindh Khalid Mehmood Shaikh, CEO of Arif Habib Corporation Arif Habib, CEO of Sindh Engro coal mining Ami Iqbal, chairperson Pakistan Stock Exchange Dr. Shamshad Akhtar, and chairman of Association of Builders and Developers (ABAD) of Pakistan Mohsin Shaikhani followed by a panel discussion about the emerging role of public-private-partnerships and investment opportunities in Sindh.
Ahmed Shaikhani, President of Pakistan Business Council, said: “I must appreciate the organisers Badar Expo Solutions who gathered an elite business community from both countries and decision-makers, providing a result-oriented business platform to network, grow and create more job opportunities. He thanked the Pakistani business community-based in the UAE for being part of a new journey. I wish the organisers achieve their objective of connecting business decision-makers from both countries.”
A special prominence was given to encourage and promote new start-ups by providing them with this international platform in the most establishes and the best commercial hubs in the Middle East. The event stressed the importance of Green Sindh with the help of solar energy, wind turbines that can produce clean energy to protect the environment. With success stories of the solar fields and wind turbines providing clean energy. More importantly the need for private and public partnerships and joint ventures for further expansion in this important aspect of protecting the environment.
Six MoUs (Memorandums of Understanding) were signed on the occasion that include Pakistan’s public and private sector to boost business activities, collaborations and supporting the startup ecosystem in Pakistan. The MoUs included funding the startups between Sindh Enterprise Development Fund and Pakistan Business Council Dubai; investment facilitation between Sindh Investment Department and Pakistan Business Council; waste to energy between Private Financing Advisory Network and United Nations Industrial Development Organisation (UNIDO), and developing water resources between Water Board and private sector company.