Pakistan's PM leaves for day-long UAE visit to talk trade and investment
Pakistan's Premier Shehbaz Sharif departed for the United Arab Emirates (UAE) with a high-level delegation on Thursday to discuss trade and bilateral relations, as Pakistan seeks foreign investment while navigating a challenging path to economic recovery.
PM Sharif’s visit follows a series of recent high-level engagements, with business and diplomatic delegations from Saudi Arabia, Qatar, Japan, and Uzbekistan visiting Pakistan to explore investment opportunities in key economic sectors.
Facing challenges such as high inflation, low foreign exchange reserves, and an unstable currency, Prime Minister Sharif has committed to guiding Pakistan out of its prolonged economic crisis. His strategy includes enhancing bilateral trade with allies and attracting more international investment.
The UAE stands as Pakistan’s third-largest trading partner, following China and the United States. Pakistani policymakers view the Gulf state as an ideal export destination due to its geographical proximity, which reduces transportation and freight costs and facilitates smoother commercial transactions.
Additionally, the UAE hosts over a million Pakistani expatriates and is the second-largest source of remittances to Pakistan, after Saudi Arabia.
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