UAE-based Pakistanis remitted $800m last year

DUBAI — Pakistanis residing in the UAE have sent remittances amounting to $800 million to their home country during the past one year, according to Abdul Hameed Chaudhry, Pakistan Consul-General in Dubai.

By M. A. Qudoos

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Published: Mon 26 Mar 2007, 9:36 AM

Last updated: Sun 5 Apr 2015, 4:09 AM

He was addressing the Pakistan National Day reception in Dubai which was attended by Shaikha Lubna bint Khalid Al Qasimi, Minister of Economy, as the chief guest. She was received by Pakistan Ambassador Ahsan Ullah.

The consul-general said that the UAE and Pakistan were enjoying excellent bilateral trade relations and the trade volume had exceeded $4.3 billion.

Approximately 8.6 per cent of Pakistan’s global exports are destined for the UAE, making it the second largest importer of Pakistani goods after the US, he said.

Foreign direct investment from the UAE to Pakistan has also registered a phenomenal growth during the recent past, reaching $1.5 billion last year.

“The investment is certainly going to see further boost due to the increasing number of projects sponsored by the UAE government and private sector in Pakistan,” Chaudhry observed.

He said that the UAE and Pakistan were enjoying deep-rooted, brotherly relations. “The two countries have supported each other at all the international fora. More than 700,000 Pakistanis are living and working in the UAE. Their work covers a full spectrum of professions,” he said.

“The leadership of the UAE is held is the highest esteem by the people of Pakistan,” Chaudhry added.

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