Mutually beneficial business relations

Pakistan and the UAE are bound in an indispensable nexus of cooperation. There is enormous business potential between the two countries, and organisations like the Pakistan Business Council (PBC), Dubai, have been at the vanguard in furthering renewed trade and commerce activity. Both the governments, as well as trade bodies, have closely interacted for the last many decades to cement a relationship that is based on mutual confidence and accessibility.
"We are a group of 800 business houses and 3,000 business units in the UAE, all of whom hail from Pakistan and are well-established in Dubai, UAE, and are operational as a registered entity with the Dubai Chamber of Commerce," said Muhammad Iqbal Dawood, President of Pakistan Business Council, Dubai.
Dawood is actively involved in long-term planning and brand developments, while keeping the future of Pakistan and trade in mind. He believes that there is great potential for the two countries, thanks to their geographical and deep-rooted cultural relations.
"I believe that PBC shares a very successful and close relationship between DED and Dubai Chamber, which continues to strengthen. To date, imports to Pakistan is very high, with the re-exports of Pakistani goods and logistics on the rise. Dubai provides excellent state-of-the-art facilities to showcase our expertise and we trust that bilateral trade is set to increase," he added. 
Looking ahead PBC plans to host high-level seminars in order to complement and boost business and trade. 
"We plan to have a dialogue with the Ministry of Planning, Pakistan, and educate our members and create a common platform where the needs and possible value additions can be exchanged with one another. Apart from facilitating the members at various events, the PBC will also help develop human capital and equip them to be able to participate in the event," he said.
To date, the member business houses at PBC hail from varied experiences and success stories in various fields of business, namely: real estate developer, real estate brokers, architects, financial consultants, architectural consultants, chartered accountants, machinery, food stuff, signboards, general trading, imports and exports, clearing and forwarding agents, private equity, and many more.
Enriching economic interaction
Frequent high-level exchanges and bilateral consultations between Pakistan and the UAE are reflective of the fact that the two countries have laid strong foundations of mutually beneficial relations, friendship and peaceful cooperation over the years. 
"The UAE has emerged as one of Pakistan's major economic and trading partners. A large number of Pakistani expatriates in the UAE have contributed in a significant manner to promotion of bilateral understanding and to the economy of Pakistan through their home remittances. The UAE also has a long cricket relationship with Pakistan, serving as a home ground for the Pakistan cricket team for the past few decades. The volume of trade between the two countries is valued at more than $10 billion," Dawood said.
Pakistan's sectors expected to boom in the coming years are agriculture (vegetables, fruits, meat, poultry, and rice), engineering and electrical products, textiles and information communication technology products.
"Rice remains Pakistan's leading food export to the UAE. According to TDAP figures, Pakistan's rice sales jumped 11-fold to $207.8 million compared to the last two years," he said. 
Meat and processed frozen food exports had the $100 million mark in the last three years, followed by 100 per cent increase in the export of fruits and vegetables. 
"Dry fruits are also in high demand in the UAE, and the volume of business for dry fruits and vegetables rose to $9.7 million and $7.8 million, respectively," he added. 
With Expo 2020 just around the corner, Dawood shared that PBC has all hands-on deck to accommodate Pakistani entrepreneurs alongside delegates from the Pakistan Embassy and Consulate. - farhana@khaleejtimes.com
 

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