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Pakistan and UAE unlock new business and investment opportunities
Both nations share a robust and multifaceted relationship, spanning diplomatic, economic, and cultural ties
- PUBLISHED: Sun 23 Mar 2025, 11:00 AM
Pakistan and the UAE continue to deepen their economic partnership through enhanced collaboration in key sectors, including banking, mining, infrastructure development, and logistics, with growing interest in renewable energy, hospitality, and tourism, says a top diplomat.
Pakistan Ambassador to UAE Faisal Niaz Tirmizi said both countries aim to diversify trade and investment avenues, foster business partnerships, and leverage strategic complementarities to achieve sustainable economic growth and mutual prosperity.
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“Both nations have signed multiple agreements to bolster cooperation in banking, mining, infrastructure development, and railways. Several Memoranda of Understanding (MoUs) are in the pipeline, covering multiple areas such as food security, science and technology, artificial intelligence (AI), tourism and culture. These agreements aim to deepen collaboration in emerging sectors and foster innovation-driven partnerships between Pakistan and the UAE,” Tirmizi told Khaleej Times during an exclusive interview.
The ambassador said Pakistan and the UAE share a robust and multifaceted relationship, spanning diplomatic, economic, and cultural ties. He noted that the UAE is Pakistan’s largest trading partner in the Middle East and the third largest globally, reflecting the depth of our economic engagement. Additionally, the UAE is a vital source of remittances, thanks to the significant Pakistani expatriate community residing there.
He also observed that the recent exchange of high-level delegations underscores the commitment of both nations to strengthening bilateral relations. Prime Minister Shehbaz Sharif’s participation in the World Governments Summit in February 2025, followed by the visit of Sheikh Khaled bin Mohamed Al Nahyan, Crown Prince of Abu Dhabi, along with a high-level delegation, highlights the mutual focus on enhancing economic cooperation and investment opportunities.
“As a result of these engagements, bilateral trade has grown by 28 per cent during the first eight months of the current financial year compared to the same period last year. This growth reflects expanding collaboration in key sectors such as infrastructure development, mining technology, and banking and finance,” he said.
During the visit of Sheikh Khaled bin Mohamed bin Zayed Al Nahyan on February 27, 2025, both countries signed multiple MoUs to bolster cooperation in banking, mining, infrastructure development, and railways. This follows an earlier milestone on November 8, 2024, when four MoUs were signed between Abu Dhabi Ports Group and Pakistan’s Ministries of Maritime Affairs, Aviation, Railways, and the Federal Board of Revenue. These agreements focus on enhancing collaboration in customs operations, rail connectivity, airport infrastructure, maritime shipping, and logistics.
Further strengthening logistics ties, DP World and Pakistan’s National Logistics Corporation (NLC) launched the first feeder shipping service between Dubai’s Jebel Ali Port and Karachi in January 2025, streamlining trade and cargo movement between the two countries.
The ambassador said several sectors hold significant potential for boosting UAE-Pakistan trade and investment:
Shipping and Logistics: Leveraging the strategic locations of both countries as regional trade hubs.
Banking and Financial Services: Expanding collaboration in fintech, Islamic banking, and investment financing.
Mining: Tapping into Pakistan’s vast untapped mineral resources.
Healthcare: Exploring joint ventures in hospital management, pharmaceuticals, and medical tourism.
Railways and Aviation: Enhancing infrastructure development and operational efficiencies.
“By strengthening partnerships in these areas, Pakistan and the UAE can unlock new avenues for mutual growth and prosperity,” he said.
Overseas Pakistanis Role
Tirmizi, an experienced diplomat, said the Pakistani community in the UAE plays a pivotal role in Pakistan’s economy, with remittances exceeding $5 billion last year.
“We anticipate this figure will reach $6 billion this year. To send remittances through official channels, the Pakistani Missions in the UAE, in collaboration with the State Bank of Pakistan, National Bank of Pakistan, and exchange companies, regularly conduct awareness sessions,” he said.
The government has also launched the Sohni Dharti Remittance Programme, a point-based loyalty initiative offering incentives such as duty payments, fee waivers for passport/NICOP, school fee payments at OPF schools, and discounts on PIA air tickets and extra luggage charges. These measures are expected to further increase remittance inflows in the coming years.
About the pension scheme for Pakistanis working abroad, the ambassador said the State Bank of Pakistan (SBP), in collaboration with Roshan Digital Account (RDA) banks, has introduced the Roshan Pension Plan (RPP), a voluntary pension scheme tailored for overseas Pakistanis. The RPP offers a range of investment options, including equity-based, debt-based, money market-based, and hybrid funds, allowing individuals to choose long-term financial goals.
Key features of the RPP include:
Eligibility: Open to employed or self-employed individuals above 18 years of age with a valid CNIC/NICOP and an RDA account.
Contributions: Participants can start with as little as PKR 10,000.
Additional Benefits: Insurance/takaful protection and tax benefits as per Pakistani laws.
The RPP enables overseas Pakistanis to plan for their retirement conveniently from anywhere in the world, ensuring financial security in their later years.
RDA: A Game-changer
The Roshan Digital Account (RDA) has been a game-changer in formalising remittance flows and boosting Pakistan’s economy, according to the ambassador.
“Pakistan has received the highest inflows of from the UAE under the Roshan Digital Account (RDA). To further enhance its appeal, the State Bank of Pakistan could consider adding features such as National Savings plans and prize bonds, which are highly trusted by overseas Pakistanis. These additions would provide more investment options and strengthen the RDA’s value proposition,” he said.
In reply to a question about some Pakistanis facing visa issues, the UAE remains a prime destination for expatriate workers, tourists, and investors, thanks to its diversified economy.
“While challenges exist, the future looks promising, particularly for skilled professionals in emerging sectors such as information technology, healthcare, renewable energy, and financial services,” Tirmizi said.
“The Government of Pakistan is actively addressing visa-related challenges through governance reforms and human resource development initiatives. With the UAE’s growing demand for skilled labour and Pakistan’s efforts to streamline manpower movement, we are optimistic about improved visa facilitation soon,” he said.
About the new initiatives to facilitate visitors for ID card and passport renewals, document attestation, and other consular services, he said the Embassy and Consulate have implemented several initiatives to enhance service delivery. It includes:
Token System: A token system has been introduced to streamline the submission and collection of documents.
WhatsApp Helpline: A dedicated WhatsApp number has been established to address consular inquiries promptly.
Infrastructure Upgrades: The consular hall in the Embassy was upgraded to improve the visitor experience at the Embassy.
Additionally, the National Database and Registration Authority (NADRA) has launched an online appointment system, significantly reducing wait times.
“A one-window operation has been introduced in the passport section, and home delivery services for passports have been implemented. In the attestation section, the processing time has been reduced to one hour, with documents now being delivered on the same day,” the ambassador concluded.
VISITING THE UAE: MUST THINGS TO DO
Tirmizi has advised Pakistanis to do their research work before visiting the UAE to explore job or business opportunities or to enjoy the emirate’s hospitality and tourism sites.
The ambassador suggested a comprehensive guidelines to facilitate the countrymen planning to visit the UAE.
Research Thoroughly: Job seekers should research their desired roles, skill requirements, and market trends. Upskilling is essential to meet the demands of the UAE job market.
Verify Credentials: Ensure the authenticity of visas, employers, and job offers through relevant authorities and Pakistan’s Mission in the UAE.
Understand Local Laws: Familiarise yourself with UAE’s labour, immigration, civil, and business laws, as well as cultural norms and sensitivities.
Stay Informed: Be aware of cyber laws and social media regulations to avoid unintended violations.
“It is important to mention here that we have developed a 14-minute comprehensive tutorial video to help Pakistani expatriates living in UAE or intending to come here for employment or visit. This video has all the requisite information and details including Dos and Donts,” Tirmizi said.
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— muzaffarrizvi@khaleejtimes.com
