Pakistan-UAE trade surpasses $10.9 billion in 2023

Sharjah 24 – WAM: Pakistan’s Ambassador to the UAE, Faisal Tirmizi, revealed that bilateral trade between Pakistan and the UAE surpassed US$10.9 billion during the fiscal year 2023–24, covering both goods and services.

Remittances from Pakistani community reach $6.7 billion

Tirmizi also disclosed to the Emirates News Agency (WAM) that remittances from the Pakistani community in the UAE totaled $6.7 billion in 2024, with expectations to surpass $7 billion in 2025.

Trade balance improves with increased exports

Goods trade for the year reached $8.41 billion, with Pakistan’s exports increasing by 41.06% to $2.08 billion. Imports from the UAE dropped 14.45% to $6.33 billion, leading to a 28.28% reduction in the trade deficit. Meanwhile, services trade stood at $2.56 billion, reflecting a 20.54% year-on-year growth.

Steady growth continues in 2024–2025

Between July 2024 and January 2025, goods trade rose by 21.63%, with Pakistan’s exports up by 7.53%, indicating a strong trajectory of economic engagement.

UAE investments in Pakistan's key sectors

Ambassador Tirmizi noted that 19 Emirati companies are currently operating in Pakistan, with investments in communications, services, tourism, IT, oil and gas, housing, banking, and real estate. Major UAE firms like Etihad Airways, Emirates, Emaar, and Dubai Islamic Bank have a presence in the country.

Major financial and infrastructure deals

He highlighted major transactions, including the Abu Dhabi Group’s acquisition of Bank Alfalah and UBL, as well as Dubai Islamic Bank and Emirates International Bank establishing branches. The UAE’s telecom sector also made a significant investment by acquiring a major stake in PTCL for over $2 billion.

Port and logistics partnerships

Recent agreements include Abu Dhabi Ports Company and DP World signing deals for Karachi Port Trust (KPT) operations and related railway infrastructure projects, showing long-term UAE commitment to Pakistan’s connectivity and development.

Role of the Special Investment Facilitation Council (SIFC)

Tirmizi praised the Special Investment Facilitation Council (SIFC) for streamlining Pakistan’s investment environment with a one-window operation aimed at boosting transparency and cutting bureaucracy.

Appreciation for Pakistani diaspora in the UAE

Addressing the 1.5 million-strong Pakistani diaspora in the UAE, Tirmizi commended their contributions and urged respect for local laws, cultural norms, and digital regulations. He also introduced a 14-minute video guide to help expatriates understand their rights and responsibilities.

“You are the bridge between our two nations,” the ambassador said. “Your positive presence strengthens the bond between Pakistan and the UAE every day.”