UAE's investments to Pakistan continue to rise

DUBAI — The UAE and Pakistan have witnessed a strong growth in economic relations in recent past and this trend will continue in days to come amid considering growing interest of UAE investors in flourishing economy of Pakistan.

By A Staff Reporter

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Published: Tue 13 Mar 2007, 9:16 AM

Last updated: Sat 4 Apr 2015, 10:48 PM

Emirati investors are looking to take advantage of investment opportunities in Pakistan's key sectors like energy, investment, trade, banking and real estate.

In a latest move, Shaikh Tariq bin Faisal Al Qasimi, Chairman of Emirates Investment Group and Chairman of Emirates Global Islamic Bank (EGIB), recently visited Pakistan. He also met Pakistan Prime Minister Shaukat Aziz in Islamabad and discussed matter of mutual interest.

During a meeting, Prime Minister Shaukat Aziz said his government is keen on providing support for senior groups and investors.

The prime minister acknowledged that the volume of Gulf investments into his country is the largest. He stressed that this high level must be preserved for its economic advantages: providing job opportunities, while importing the latest management and marketing techniques methods into Pakistan.

Prime Minister Shaukat Aziz also praised the significant role played by Shaikh Tariq in developing these new investment sectors and for introducing modern concepts to the business sector of Pakistan.

In return, Shaikh Tariq Al Qasimi said: "Diversification is an important requirement in any investment portfolio, this helps us create and take advantage of opportunities that can benefit from managerial skills that utilises a long vision of the economy; resulting from a strong familiarity with economic rules and regulations.

Shaikh Tariq spoke of the economic decline and stagnancy of the region, and how a revolution it its economy now has helped it to be on a par and take advantage of global growth opportunities.

The two leaders noted that the UAE-Pakistan economic relations have witnessed a remarkable growth in the last decade, where there has been a surge in Emirati investors looking to take advantage of the growth opportunities taking place within the subcontinent nation.

One such firm, the Emirates Investment Group is now considered one of the largest investment companies in Pakistan with its recently launched Financial Towers in Karachi done via the aid of the Pakistani government.

Furthermore, the Emirates Global Islamic Bank, launched by major gulf investors, is considered one of the most modern Islamic banks in the country in terms of the quality of products, strength of its Islamic banking facilities and the technical investment infrastructure provided to the Pakistani banking sector.

It is worth mentioning that the gulf investors and businessmen in the region are playing a major role in the development and in the increase of the economic and financial arena, as well as the industrial and banking foundations.

Pakistan hopes to achieve positive results from the rapid economic plans with the UAE in particular and the GCC states in general. It is estimated that trade with UAE is likely to post significant growth during the current financial year and cross $5 billion mark by June following a surge in exports to the UAE.

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