A Pakistan Mart in Dubai will be established to boost the “global footprint” of exports, state media Pakistan radio reported on Wednesday.
Pakistan and the United Arab Emirates share close diplomatic, economic and cultural ties. The EAU is one of Pakistan’s largest commercial partners in the Middle East and an important source of remittances, with a large population of Pakistani expatriates who live and work there.
In statements to the media on the project, the Minister of Commerce, Jam Kamal Khan, described him as a “change of game for the paquistani commercial impulse.”
He was summoned by saying: “The Pakistan Mart will facilitate Pakistani merchants, allowing them to export their products to regions around the world.”
“The initiative is headed by the National Logistics Corporation of Pakistan and the DP World Company of the EAU,” the report added.
Last month, trade with the EAU showed an upward trend. Pakistan key export articles for the EAU include rice, bovine meat, cotton garments, mangoes and guayabas.
Exports increased 1.87 percent to $ 2,121 billion in fiscal year 2000 from $ 2,082 billion last year. In fiscal year24, exports to the EAU had increased 41.15PC, largely due to the increase in shipments to Dubai. Eau imports increased 25.75PC to $ 7,958 billion in fiscal year 2015 from $ 6,328 billion a year ago.
In general, the country’s commercial deficit with the Middle East was extended at 7.37pc to $ 13,974 billion in fiscal year 2000 from $ 13,014 billion a year ago, mainly due to a strong increase in oil imports.
