Pakistan and the United Arab Emirates (UAE) are progressing towards finalizing the Comprehensive Economic Partnership Agreement (CEPA), with technical negotiations nearing completion. This development was highlighted during a recent meeting between Pakistan’s Federal Minister for Commerce, Jam Kamal Khan, and the UAE Ambassador to Pakistan, Salem Mohammed Salem Al Bawab Al Zaabi.
Strengthening Bilateral Economic Ties
During their meeting, both officials reaffirmed their commitment to deepening economic relations and accelerating the CEPA process. Minister Khan emphasized the longstanding and multifaceted relationship between Pakistan and the UAE, encompassing political, defense, and social dimensions. He stressed the importance of transforming this strong bond into a balanced trade and investment partnership that fully realizes the potential of their bilateral ties.
Focus on Economic Reforms and Growth
Khan highlighted Pakistan’s ongoing economic reforms aimed at fostering a more conducive environment for business and investment. While acknowledging short-term challenges faced by the private sector due to stabilization efforts, he reiterated the government’s focus on medium-term economic growth, export expansion, and enhancing regional connectivity, particularly through partnerships with Gulf countries.
UAE’s Interest and Collaboration Opportunities
Ambassador Al Zaabi praised Pakistan’s reform initiatives and the professionalism of the teams involved in the CEPA talks. He recognized Pakistan’s large market, skilled workforce, and strategic location as key factors driving the UAE’s interest in expanding cooperation. Areas highlighted for enhanced collaboration include trade, logistics, ports, infrastructure, manufacturing, and investment facilitation.
Exploring Joint Ventures and Regional Cooperation
Both parties also explored possibilities for joint ventures and trilateral cooperation in third-country markets. They discussed expanding collaboration in emerging regions such as Central Asia and Africa, aiming to leverage new economic opportunities beyond their borders.
Commitment to Timely Agreement Completion
The meeting concluded with a mutual commitment to maintain close coordination and ensure the timely finalization of the CEPA. This agreement is expected to mark a new chapter of mutually beneficial economic partnership between Pakistan and the UAE.
