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ISLAMABAD: Pakistan’s key team comprising caretaker Minister for Commerce and Industries, Gohar Ijaz has reached United Arab Emirates (UAE) to remove hurdles to investment and reach Comprehensive Economic Partnership Agreement (CEPA).

Pakistan and United Arab Emirates recently signed Memorandum of Understandings (MoUs) in different sectors under the auspices of Special Investment Facilitation Committee, which are being converted into formal agreements aimed at attracting billions of dollars’ investment.

“We are receiving queries from UAE on daily basis to clear concepts in the fields of agriculture, energy and investment which are being secured,” the sources said.

Pakistan, UAE sign MoUs worth multi-billion dollars: caretaker PM Kakar

Last month, Army Chief General Syed Asim Munir was also in Dubai where he held important meetings prior to signing of MoUs.

At a recent meeting of Apex Committee of SIFC, Army Chief said that SIFC has made headway to resolve long standing disputes and stalled projects. He also mentioned SIFCs key contributions within a short period stating that it has achieved commendable progress in the realm of corporate farming and has played a pivotal role in fostering the IT freelancers and market through the implementation of effective digital payment mechanism. Critical projects, such as the refinery, TAPI and Thar Railway connectivity, have been supported

In October last year, President urged the need for early finalization of the Comprehensive Economic Partnership Agreement (CEPA) with the UAE to enable Pakistan to increase its exports, adding that Pakistan also needs to explore new avenues in economic diplomacy and investments with UAE.

He said that bilateral trade between Pakistan and UAE could be further increased from its current level of $ 10.6 billion to make it commensurate with excellent relations and close geographic proximity.

Copyright Business Recorder, 2024

Comments

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Twain pen di Jan 05, 2024 05:18am
clowns believe signing mou's are as good as influx of investment, uae will runaway too after reviewing failed Pakistani mechanisms.
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M M Alam Jan 05, 2024 08:00am
MOU means nothing.
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Twain pen di Jan 05, 2024 04:58pm
why did the bottle get stuck in your necks??
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shah Jan 06, 2024 02:56am
BEEKH MANGEY
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JavedBhai Jan 06, 2024 05:03am
We now have successful exports to Australia, Belgium and USA. I assume the day this chap's paymaster stops becoming Pakistan he'll export to Dubai? All slogans of Pakistan Pakistan will vanish and he'll be citing 'security concerns' when he is ordered for inquiry!
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