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Dubai-UAE: 13 July, 2014 - His Excellency Sultan bin Saeed Al Mansouri, UAE Minister of Economy, met with Asif Ali Khan Durrani, Pakistan's Ambassador to the UAE, to explore ways for promoting economic relations, trade and mutual investment between the two countries. During the meeting that took place at the Ministry of Economy offices in Dubai, His Excellency Al Mansouri stressed the need to build on the agreements and outcomes of the 11th UAE-Pakistan Joint Committee meeting to further develop mutual relations across various sectors including energy, oil and gas, environmental preservation, industry, technology, telecommunications, civil aviation, tourism, transport, real estate, finance, banking as well as humanitarian and charitable work. The discussions also looked to identify initiatives that would encourage businessmen and investors from both countries to engage in dialogue, participate in specialised meetings and exchange visits. The long-standing relations between the UAE and Pakistan were established in November 1972. In February 1977, the first meeting of the UAE-Pakistan Joint Committee was held in Abu Dhabi. The two countries signed an agreement on avoidance of double taxation in 1999. According to the Ministry of Economy, Pakistan ranks 24th in foreign trade volume with the UAE and is the country’s 16th largest importer. Non-oil trade, excluding trade through free zones, between the UAE and Pakistan stood at more than AED1.9 billion in 2013. Currently, 7,000 Pakistani companies and 12 trade agencies operate out of the UAE.
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