Bilateral trade between Pakistan and the United Arab Emirates (UAE) exceeded US$7.43 billion in 2024, accompanied by a robust 24% increase in Pakistani exports to the Gulf nation, a prominent business leader announced in a statement today. He also highlighted that crucial remittances from the 1.8 million-strong Pakistani diaspora in the UAE are projected to surpass US$8 billion this year.
The figures were released in a statement by Mian Zahid Hussain, a leading figure in Pakistan”s business community, on the occasion of the UAE”s 54th National Day (Eid Al Etihad). Hussain, who holds multiple key positions including President of the Pakistan Businessmen and Intellectuals Forum, extended congratulations to the UAE leadership and its people.
In his message, Hussain paid tribute to the UAE’s Founding Father, Sheikh Zayed bin Sultan Al Nahyan, for his vision in establishing a progressive state. He described the relationship between the two countries as being rooted in shared history and mutual respect, and credited UAE Ambassador HE Salem M. Salem Al Bawab Al Zaabi and Consul General HE Dr. Bakheet Ateeq Alremeithi as architects of the strong bilateral ties.
“The UAE is a second home to millions of Pakistanis and a cornerstone of our economic stability,” Hussain stated, pointing to transformative Emirati investments in Pakistan’s critical sectors. He cited strategic agreements in logistics and port operations, particularly development projects at Karachi Port Trust by Abu Dhabi Ports and DP World with NLC, as “game-changers” for the nation”s maritime economy.
The business leader also welcomed the UAE”s expanding investments in Pakistan’s telecommunications and financial sectors, noting that this engagement in conventional and digital banking aligns with the global shift towards a digital economy.
Hussain emphasized the role of Pakistani expatriates, calling them a “vital bridge” between the nations. He noted that their remittances provide a crucial “financial lifeline” that supports Pakistan”s foreign exchange reserves and overall economic resilience.
Looking to the future, the PBIF President urged both governments to accelerate cooperation in areas identified during recent Joint Ministerial Commissions, including corporate farming, food security, renewable energy, and information technology. He expressed optimism for joint ventures leveraging the UAE’s ‘Falcon Arabic’ AI initiative and Pakistan’s growing technology talent.
Hussain concluded by offering prayers for the continued prosperity and security of the UAE under President Sheikh Mohamed bin Zayed Al Nahyan, reaffirming the commitment of Pakistan’s business community to further strengthen the enduring relationship.