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.

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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