UAE Delegation Meets Finance Minister Ishaq Dar to Discuss Investment in Aviation Sector



The United Arab Emirates delegation led by its Minister of Economy Abdulla bin Touq Al Marri met Pakistan Finance Minister Ishaq Dar in Islamabad today The main purpose of the meeting was to discuss investment opportunities in Pakistan aviation sector Both sides expressed their commitment to strengthening economic cooperation between the two countries. 


The UAE minister said they see great potential in Pakistan aviation industry and want to explore ways for Emirati companies to invest He believes UAE investment can help modernize and expand Pakistan aviation infrastructure like airports This will increase air connectivity and boost tourism and trade flows between the two countries The finance minister welcomed the UAE interest and assured full support from the Pakistani government for any potential investment projects.


Dar briefed the UAE delegation on the steps Pakistan is taking to improve its business environment through reforms He highlighted that the aviation sector is a priority area for the government and various initiatives are underway to bring in new technology and meet international standards. The minister invited UAE investors to partner with Pakistan in building new airports expanding existing ones and other aviation services.


Both sides agreed that enhanced air links will lead to increased people to people contacts and provide a fillip to other economic activities They decided that a detailed presentation will be given to UAE companies on specific investment opportunities available in areas like MRO services ground handling cargo and logistics etc A high level joint working group will also be formed for regular follow up. 


The finance minister expressed confidence that the deliberations will lead to concrete investment decisions by UAE firms He assured full cooperation and facilitation from Pakistan including fast track approvals The visiting delegation thanked Pakistan for the warm welcome and constructive discussions They hoped the talks will pave the way for win win partnerships in boosting bilateral trade and cooperation to new heights.


The meeting signaled both countries strong commitment to exploring untapped areas of cooperation for their mutual benefit If materialized UAE investments as discussed can go a long way in driving modernization of Pakistan aviation sector with spillover gains for overall economic development Both sides seemed pleased with the outcome and vowed to maintain the upbeat momentum in their strategic ties.

Comments

Post a Comment

Popular posts from this blog

UAE's Economy is Thriving Beyond Oil

Image
  The Organization of Petroleum Exporting Countries OPEC monitors oil markets around the world. In their latest report from September 2024 OPEC looked at how the UAE economy is doing apart from oil. The report said that parts of the UAE economy not involving oil have been doing very well in 2024 One example is tourism.  Dubai welcomed over 10.6 million foreign visitors between January and June This was more than before the coronavirus pandemic Many tourists came from neighboring countries in Asia and Europe. Another strong sector is financial services Banks in cities like Dubai and Abu Dhabi have been providing services to customers from the region and globally The real estate industry has also seen growth as large construction projects progressed These included new housing, malls and towers. International trade is helping the UAE too Companies are exporting and importing goods using the country ports and airports These handle cargo from around the world Industries like manufacturing a
Read more

Strengthening Trade Relations Between China and the UAE

Image
  Recently Premier Li Qiang of China visited the United Arab Emirates UAE to discuss ways to deepen trade ties between the two countries. During his meeting with UAE President Sheikh Mohamed bin Zayed Al Nahyan Li emphasized the importance of cooperation in key sectors such as new energy, electric vehicles and the digital economy This visit is part of Li's broader Middle East tour and highlights the growing relationship between China and the UAE. Li noted that China has been the UAE's largest trading partner for several years In 2023 non oil trade between the two countries reached an impressive $81 billion marking a 4.2% increase from the previous year This strong trade relationship shows how both nations can benefit from collaboration in various industries helping to create jobs and boost their economies. One of the main goals of the discussions was to enhance investment cooperation Li called for the establishment of a high level joint committee to focus on emerging industries
Read more

UAE ranks 7th globally in 2024 World Competitiveness Report

Image
  The United Arab Emirates has advanced three places in the world competitiveness ranking to be placed 7th globally according to the latest World Competitiveness Report 2024 released by the International Institute for Management Development IMD The UAE had ranked 10th in the previous year's report.  The UAE advancement in the ranking reflects its strong economic performance despite global uncertainties The country scored high on key parameters like economic performance government efficiency business efficiency and infrastructure. The stable business environment, positive reform measures and diversified economy have helped UAE to maintain its leading position as a competitive economy It also reflects the success of the UAE vision to build a sustainable knowledge based economy. The top spots in the ranking were secured by Switzerland, Singapore and Denmark respectively. However the UAE rise to the 7th position highlights its growing strength as a competitive free market economy with
Read more