UAE and Pakistan discuss boosting co-operation

Sheikha Lubna bint Khalid Al Qasimi, UAE’s Minister of Foreign Trade (MoFT) and Hina Rabbani Khar, Pakistan’s Foreign Minister on Monday discussed ways of boosting bilateral co-operation in various fields, especially trade and investment. Abdullah Al Saleh, the Undersecretary of the Ministry of Foreign Trade and Jamil Ahmed Khan, Ambassador of Pakistan to UAE also attended the meeting which was held at the ministry’s headquarter. Sheikha Lubna confirmed that trade relations between the two countries have seen significant changes during the last five years and bilateral non-oil trade has grown by 74 percent in 2010 amounting to US$ 2.87 billion compared to US$ 1.65 billion in 2006. The value of non-oil exports to Pakistan witnessed a growth of 45.8 percent and imports from Pakistan to UAE also increased during this period. Moreover, the volume of trade exchange between the two countries during the first nine months of last year amounted to US$ 2.1 billion. For her part, Foreign Minister Hina Rabbani Khar hailed the distinguished bilateral relations between the two countries and commended UAE’s role in the development of Pakistan economy. She also praised the efforts of the Ministry of Foreign Trade in the development of trade relations, especially through holding UAE exhibitions in Pakistan.