The UAE-Pakistan trade volume rose to $7.9 billion in 2023, up 12 percent from 2022. “Discussions were also held on the investment of UAE companies in various projects in Karachi,” the CM’s office said. In May this year, Prime Minister Shehbaz said the UAE had committed $10 billion to invest in promising economic sectors in Pakistan. Earlier this month, Pakistan signed four MoUs with the AD Ports Group, a major investor in Pakistan, to explore opportunities in the maritime, air and rail sectors as well as in logistics and digital services. With UAE partner Kaheel Terminals, AD Ports Group is already developing, operating, and managing container, bulk, and general cargo operations at the Port of Karachi, Pakistan’s major port, where it has agreed to invest almost $400 million over 15 years.

Source: The Nation November 13, 2024 12:15 UTC