Mohsin Siddiqui (Chief Reporter)

Pakistan’s key team, led by caretaker Minister for Commerce and Industries, Gohar Ijaz, has arrived in the United Arab Emirates (UAE) with the mission to eliminate obstacles to investment and advance the Comprehensive Economic Partnership Agreement (CEPA). Recent Memorandum of Understandings (MoUs) between the two countries, facilitated by the Special Investment Facilitation Committee, are now transitioning into formal agreements, aiming to attract significant investment totaling billions of dollars.

The team is actively addressing daily inquiries from the UAE, focusing on clarifying concepts in crucial sectors such as agriculture, energy, and investment. These efforts are part of a broader initiative to foster economic collaboration and streamline processes for potential investors.

In a noteworthy development, Army Chief General Syed Asim Munir visited Dubai last month, engaging in vital meetings preceding the signing of MoUs. During a recent Apex Committee meeting of the Special Investment Facilitation Committee, General Munir highlighted the committee’s success in resolving longstanding disputes and advancing stalled projects. He emphasized the committee’s achievements in corporate farming, IT freelancing, and market development through the implementation of efficient digital payment mechanisms. Key projects, including the refinery, TAPI, and Thar Railway connectivity, have received substantial support.

Last October, the President underscored the urgency of finalizing the Comprehensive Economic Partnership Agreement (CEPA) with the UAE. The aim is to boost Pakistan’s exports and explore new avenues in economic diplomacy and investments. Bilateral trade, currently standing at $10.6 billion, is expected to increase, aligning with the close relations and geographic proximity between Pakistan and the UAE.