UAE: New Pakistan Business Council launched in Sharjah
The platform is expected to play a pivotal role in nurturing sustainable partnerships and boosting trade and investment between the business communities of UAE and Pakistan.
Sharjah: The Sharjah Chamber of Commerce and Industry (SCCI) has officially inaugurated the Pakistan Business Council in Sharjah, marking a pivotal development in fostering economic cooperation between the emirate and Pakistan.
This initiative seeks to elevate trade and investment exchanges, seize mutual opportunities for benefit, and support the growth of the private sector, thereby playing a key role in overall economic development.
Inauguration ceremony highlights
The inauguration ceremony was graced by prominent figures including H.E Abdallah Sultan Al Owais, Chairman of the Sharjah Chamber; H.E Faisal Niaz Tirmizi, Ambassador of Pakistan to the UAE; and H.E Waleed Abdul Rahman Bukhatir, Second Vice Chairman of the Sharjah Chamber.
Key attendees also included Mohammad Ahmed Amin Al Awadi, Director-General of SCCI; Abdulaziz Al Shamsi, Assistant Director-General for Communication and Business Sector; Fatema Khalifa Al Muqarrab, Director of International Relations; and Syed Muhammad Tahir, Chairman of the Founding Committee of the Pakistan Business Council.
Strategic expansion and future
H.E Abdallah Sultan Al Owais emphasized the significance of the new council as a strategic addition to SCCI’s network of business councils. The council aims to facilitate connections, foster collaboration, and promote mutually beneficial partnerships. Al Owais highlighted that the council is instrumental in SCCI’s strategy to broaden its business council network and enhance economic cooperation, encouraging cross-border partnerships among entrepreneurs and investors.
Strengthening UAE-Pakistan trade relations
Al Owais underscored the robust economic relationship between the UAE and Pakistan, noting a substantial increase in non-oil foreign trade. In 2022, the trade value reached AED 25.7 billion, a 30% rise from AED 19.8 billion in 2021. The UAE’s commitment is further demonstrated by a $10 billion investment in key Pakistani economic sectors.
Mission and Goals
The Pakistan Business Council is expected to be a vital conduit for Pakistani business leaders to engage more deeply with Sharjah’s business community. It will facilitate the exchange of ideas, explore new investment opportunities, and promote business expansion across the UAE. The council will also support Pakistani entrepreneurs in accessing regional markets and participating in joint ventures, trade shows, and other collaborative ventures.
Key stakeholders' reactions
H.E Faisal Niaz Tirmizi praised the Sharjah Chamber’s initiative, highlighting its potential to create employment opportunities and stimulate innovation. Syed Muhammad Tahir expressed gratitude for the Chamber’s efforts to provide advanced economic opportunities and reinforce private-sector engagement.
The establishment of the Pakistan Business Council in Sharjah represents a significant step in strengthening economic ties between the UAE and Pakistan. By providing a platform for enhanced collaboration and investment, the council is poised to play a crucial role in advancing bilateral business relations and contributing to the economic development of both nations.
