Tag: Dubai World Trade Centre
Joint efforts between Pakistan and the UAE are advancing in a variety of industries. One particular area is business, with dual efforts being made in the food, textile and service regions, as will be witnessed in two days’ time at Karachi’s 10th Annual Expo Pakistan. There will be around 50 UAE delegates there from both the public and private sectors. The Pakistan Business Council will also be participating and business council members are expected to arrive from Africa, America, Australia, Jordan and the UK.
Figures for 2015-16 Pakistan-UAE bilateral trade stood at $7bn (with $1.06bn exports from Pakistan). but this increased in 2016-17 by 9.4 percent, reaching $8.3bn. During the show alone, it is anticipated that there will be in excess of $1bn trade transactions taking place. As Dubai’s Consul-General of Pakistan, Syed Javed Hassan noted:
“The climate of investment in Pakistan is very conducive for investment as red-tapism and regulations have been eased to quite an extent to attract foreign direct investment. The government has also created certain tax free zones for a period of four to five years for investors from abroad. Besides that, the CPEC [China-Pakistan Economic Corridor] is another milestone for investors to invest. When this rail linking through Gwadar becomes operational, the commodities would be transported to China, Central Asia and most of European countries, benefitting about 40 per cent of the population of this [Gulf] region.”
Just a few weeks ago there was the Pakistan Property Show in which over 50 exhibitors showcased their real estate options at the Dubai World Trade Centre, offering Pakistanis from overseas an opportunity to purchase properties in their home countries. At the show, foreign investors were able to increase exposure of their portfolios.