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UAE to support Pakistan for free trade pact

KARACHI: United Arab Emirates Minister for Foreign Trade Sheikha Lubna Bin Khalid Al Qasmi has said that Emirates will support Pakistan's quest for seeking free trade agreement with Gulf Cooperation Council.


In an interview published here on Sunday in Daily Times, conducted during the recent visit of the delegation of Pak-UAE Business Council of the Federation of Pakistani Chambers of Commerce and Industry at her office in Abu Dhabi, she said that the next round of the meeting between Pakistan and GCC countries for free trade agreement (FTA) will be held in Islamabad in next two months.

"This will be a comprehensive agreement covering three major areas -goods, services and investment," she said, adding that UAE and Pakistan enjoy historical cordial ties and UAE will support Pakistan for free trade access to Gulf market, she added. She said that the second round of these talks was held in January this year and the third round will be held in Islamabad to further progress on this issue.


To a question regarding a significant bilateral trade imbalance against Pakistan, Sheikha Lubna suggested that Pakistan should focus on the export of services and technology to UAE for improving balance of trade between the two countries.

She said that Pakistan has lot expertise in services sector which included IT, medical services and other technologies that can be exported to UAE besides exporting merchandises.

"There is a great opportunity for Pakistan to export its doctors, IT experts. There is still high demand for knowledge workers from Pakistan whether in technology, medical field, research and development or renewable energy.



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