Pakistan-UAE Trade Surges Past $10 Billion As Remittances Near $7 Billion, Says Ambassador Faisal Tirmizi

Pakistan's Ambassador to the UAE, Faisal Tirmizi, shared that trade between Pakistan and the UAE surpassed US$10.9 billion in 2023–24. This figure includes both goods and services. He also mentioned that remittances from Pakistanis in the UAE reached $6.7 billion in 2024, with expectations to exceed $7 billion in 2025. "These figures reflect not only the strength of our economic partnership, but also the vital role played by the Pakistani diaspora in supporting the national economy," he stated.

Ambassador Tirmizi highlighted a significant increase in goods trade for 2023–24, which amounted to $8.41 billion. Pakistan's exports increased by 41.06 percent to $2.08 billion, while imports from the UAE decreased by 14.45 percent to $6.33 billion, leading to a 28.28 percent reduction in the trade deficit. In services, trade reached $2.56 billion, marking a year-on-year growth of 20.54 percent.

The ambassador noted that from July 2024 to January 2025, goods trade rose by 21.63 percent, with Pakistan's exports growing by 7.53 percent, indicating sustained economic engagement momentum. "There are nearly 19 Emirati companies currently operating in Pakistan," said Ambassador Tirmizi, highlighting significant investments in sectors like communications, services, tourism, IT, oil and gas, housing, banking, and real estate.

Prominent UAE firms such as Etihad Airways, Emirates, Emaar, and Dubai Islamic Bank have established operations or branches in Pakistan. The Abu Dhabi Group acquired Bank Alfalah and UBL; Dubai Islamic Bank and Emirates International Bank opened local branches too.

In recent developments, Ambassador Tirmizi mentioned agreements signed by Abu Dhabi Ports Company and DP World for port operations at Karachi Port Trust (KPT) and related railway infrastructure projects. "These investments demonstrate the UAE’s deep and long-term commitment to Pakistan’s growth and connectivity," he added.

The ambassador praised the Special Investment Facilitation Council (SIFC) for enhancing Pakistan's investment climate through a one-window operation aimed at improving transparency and reducing bureaucracy. "SIFC is proving instrumental in making Pakistan more accessible and attractive to foreign investors, including those from the UAE," he said.

Role of Pakistani Diaspora

Addressing the Pakistani community of about 1.5 million people in the UAE, Ambassador Tirmizi applauded their contributions while urging compliance with local laws and cultural norms. He stressed using legal remittance channels and introduced a video guide to help expatriates understand their rights better.

"You are the bridge between our two nations," he said. "Your positive presence strengthens the bond between Pakistan and the UAE every day." The ambassador emphasised their crucial role in fostering strong ties between both countries.

With inputs from WAM