TRADE & ECONOMY

Deputy Prime Minister and Foreign Minister Ishaq Dar on Friday chaired a high-level meeting to review preparations for the 12th session of the Pakistan-UAE Joint Ministerial Commission (JMC), set to take place in Abu Dhabi. The session marks a significant milestone in bilateral relations as it comes after a 13-year hiatus—the last meeting was held in Islamabad in November 2013.
According to a statement issued by the Foreign Office, the meeting discussed advancing key bilateral initiatives, formalising cooperation in existing sectors, and exploring new opportunities to attract UAE investment in Pakistan’s priority areas.
“The deputy prime minister reiterated Pakistan’s firm commitment to strengthening Pak-UAE economic and trade relations,” the FO added.
The meeting was attended by federal secretaries from major ministries including economic affairs, commerce, maritime affairs, interior, health, and national heritage, along with other senior officials and Special Assistant to PM Tariq Bajwa.
The UAE remains one of Pakistan’s most important strategic partners, serving as the third-largest trading partner after China and the United States, and hosting over one million Pakistani expatriates. It is also the second-largest source of remittances to Pakistan, following Saudi Arabia.
Pakistan’s Ambassador to the UAE, Faisal Tirmizi, revealed that bilateral trade between the two nations reached an impressive $10.9 billion in the fiscal year 2023–24. Goods trade alone amounted to $8.41 billion, with Pakistan’s exports rising by over 41% to $2.08 billion. Imports from the UAE fell by 14.45% to $6.33 billion, resulting in a 28.28% reduction in Pakistan’s trade deficit. Services trade stood at $2.56 billion—up 20.54% year-on-year.
Remittances from the UAE also surged, reaching $6.7 billion in 2024. From July 2024 to January 2025, goods trade grew by 21.63%, while Pakistan’s exports to the UAE increased by 7.53%, indicating positive momentum in economic engagement.
Ambassador Tirmizi also highlighted the presence of 19 Emirati companies currently operating in Pakistan, with substantial UAE investments in sectors such as tourism, oil and gas, telecommunications, real estate, and banking.
The renewed diplomatic activity comes shortly after Prime Minister Shehbaz Sharif’s visit to the UAE, where he met with President Sheikh Mohamed bin Zayed Al Nahyan. The meeting reaffirmed the longstanding brotherly relations between the two nations and highlighted the UAE’s constructive role in defusing tensions during a recent Pakistan-India standoff in Pahalgam.
PM Shehbaz conveyed deep appreciation for the UAE’s consistent support and its role in fostering dialogue and regional stability. According to the Prime Minister’s Office, the leaders agreed to intensify cooperation in various sectors and continue working together toward regional peace and economic prosperity.
The upcoming JMC is expected to formalise several joint projects, strengthen bilateral frameworks, and mark a new chapter in Pakistan-UAE relations.