LAHORE: Ambassador of the United Arab Emirates H.E. Hammad Obaid Ibrahim Salem Al-Zaabi said that Pakistan and the UAE are at the final stage of signing a Comprehensive Economic Partnership Agreement (CEPA), which would significantly boost bilateral trade and remove business obstacles between the two countries.
He said the current trade volume of around 8 to 10 billion dollars does not reflect the true strength of relations and expressed his government’s clear directive to double this figure as soon as possible. He was speaking at the Lahore Chamber of Commerce & Industry.
President LCCI Faheem Ur Rehman Saigol welcomed him, while Senior Vice President Tanveer Ahmed Sheikh, Vice President Khurram Lodhi, Executive Committee Members Rana Shoban Akhtar, Waqas Aslam, Karamat Ali Awan, Amir Saeed Mian, Manzoor Hussain Jeffery, Mohsin Bashir, Ahsan Shahid and Amir Ali were also present.
In his address, LCCI President Faheem Ur Rehman Saigol said that UAE is one of Pakistan’s most important trading partners in the Middle East and a major source of remittances, which reached 7.8 billion dollars in 2024. He noted that Pakistan’s exports to the UAE stood at 2.1 billion dollars in 2024-25 while imports were around 8 billion dollars, largely consisting of petroleum products.
The LCCI President said there is vast untapped potential for cooperation in renewable energy, agriculture and food processing, IT, logistics, construction, tourism, healthcare and mining. He proposed establishing dedicated display centers for Pakistani products in the UAE to utilize its status as a global re-export hub and called for stronger collaboration through trade delegations, B2B meetings and joint ventures.
He assured that LCCI is ready to work closely with the UAE Embassy to build sustainable business partnerships and open new avenues of economic cooperation between the two friendly countries.
The Ambassador said that UAE is rapidly shifting towards an AI-driven and digitized economy where nearly 99 percent of government services are available online. Referring to the visa process, the Ambassador said both countries are working to streamline procedures through digital systems. He appreciated the efforts of Pakistan’s Ministry of Interior and said discussions were underway with the Punjab Skilled Labour Authority to enhance cooperation in skilled workforce mobility. He emphasized that he is personally working at operational and technical levels to ensure that all signed agreements, including CEPA and other trade frameworks, are fully implemented.
The Ambassador said the UAE is expanding investments in Pakistan in key sectors including infrastructure, ports, aviation, agriculture, minerals and railways. He revealed that discussions with Pakistan’s Railway Ministry are progressing and new agreements related to supply chain connectivity from northern regions to Karachi, including the possibility of a dry port, would be announced soon. He added that the Joint Business Council between the two countries is being activated and efforts are underway to hold its meeting at the earliest to enhance institutional cooperation.
Highlighting UAE’s focus on IT, digital banking and innovation, he invited the Lahore Chamber to share a comprehensive document outlining challenges and investment opportunities. He assured that the UAE Embassy would seriously consider recommendations from the business community and extend full facilitation to investors from both sides. He reiterated that the Embassy remains fully accessible for business support and said special consideration would be given to visa recommendations forwarded by LCCI for genuine business cases.
He said the UAE values its historic ties with Pakistan and acknowledged the major contribution of the Pakistani community to the UAE’s development, particularly in aviation and finance. He noted that the UAE economy has successfully diversified, reducing oil dependence to below 25 percent, and is pursuing ambitious export targets under its national vision.
Copyright Business Recorder, 2026
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