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PBF says UAE $10 bln pledge an irrefutable proof of foreign investors confidence

ISLAMABAD, May 28 (APP):President, Pakistan Business Forum (PBF) Khawaja Mehboob ur Rehman lauded the announcement from United Arab Emirates (UAE) of a $10 billion investment for Pakistan in the promising economic sectors.
PBF President while talking to APP on Tuesday said that we commended the UAE’s development journey and emphasized Pakistan’s commitment to strengthening its friendship with the UAE and expanding cooperation, especially in the economic, commercial, and investment sectors.
“He said this huge investment is an irrefutable proof of foreign investors’ confidence in government’s efforts to revamp the economy”.
UAE is home to 1.8 million Pakistanis who are contributing towards development, prosperity and economic growth of the two brotherly countries.
In this regard PBF President suggested that there is a further need to increase cooperation between the two countries in the fields of aviation and tourism to increase people to people contact.
The PBF also stated that in 2022, the UAE exported $5.8 billion worth of goods to Pakistan. The main products exported from the UAE to Pakistan were Crude Petroleum ($2.29 billion), Refined Petroleum ($1.3 billion), and Propylene Polymers ($212 million).
Similarly Pakistan exported in 2022 $2.58 billion worth of goods to the UAE. The top Pakistani exports were Refined Petroleum ($1.07 billion), Rice ($235 million), and Bovine Meat ($165 million). Pakistan’s exports to the UAE have grown at an annualized rate of 4.5 percent over the last 19 years, increasing from $1.12 billion in 2003 to $2.58 billion in 2022.
President, Pakistan Business Forum also invited Chairman of Abu Dhabi Chamber of Commerce, Adullah Mohammed Almazrui and CEO Ahmed Khalifa Al Qubaisi to visit Pakistan soon along with their delegation to explore more bilateral trade avenues.
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