LAHORE: The Lahore Chamber of Commerce & Industry (LCCI) on Wednesday quoted the UAE’s ambassador as saying the Emirates and Pakistan were in the “final stage” of signing a Comprehensive Economic Partnership Agreement (CEPA) to enhance trade and remove obstacles.
Speaking at the Lahore Chamber, UAE Ambassador Salem Mohammed Al Zaabi said the CEPA would help remove business obstacles and deepen economic ties between the two countries.
“Pakistan and the UAE are at the final stage of signing a Comprehensive Economic Partnership Agreement, which would significantly boost bilateral trade and remove business obstacles between the two countries,” Al Zaabi was quoted as saying in a statement issued by the Lahore Chamber.
He added that the existing trade volume of around $8–10 billion did not reflect the full potential of the relationship and his government had a “clear directive” to double the figure as soon as possible.
Al Zaabi said the UAE was expanding investments in Pakistan in sectors including infrastructure, ports, aviation, agriculture, minerals and railways.
He said discussions with Pakistan’s Railway Ministry were progressing and that new agreements related to supply chain connectivity from northern regions to Karachi, including the possibility of a dry port, would be announced soon.
He added that the Joint Business Council between the two countries was being activated and efforts were underway to convene its meeting to enhance institutional cooperation.
The UAE ambassador also outlined steps being taken to streamline visa procedures and improve skilled labor mobility.
Referring to the visa process, Al Zaabi said both countries were working to streamline procedures through digital systems and appreciated the efforts of Pakistan’s Ministry of Interior, according to the LCCI statement.
The envoy said the UAE was rapidly shifting toward an artificial intelligence-driven and digitized economy, with nearly 99 percent of government services available online.
Highlighting his country’s focus on information technology, digital banking and innovation, the ambassador invited the Lahore Chamber to share a comprehensive document outlining challenges and investment opportunities.
