Pakistan aims to double trade with UAE within three years

DUBAI: Pakistan aims to double its trade with the UAE to US$20 billion in the next three years, Khurram Schehzad, adviser to the finance minister, said.

Schehzad made the remarks while addressing the Pakistan Middle East Economic Conference, held in Dubai, which brought together top business figures, policy makers and financial experts from across the Gulf region. The conference was organized by the Institute of Chartered Accountants of Pakistan (ICAP).

He said Pakistan’s economy was showing encouraging signs of recovery with better currency stability, lower interest rates and reduced energy costs. Schehzad stressed the need for stronger coordination between the government, regulators and the business sector to boost investor confidence and ensure steady growth.

UAE Minister of Foreign Trade, Dr Thani bin Ahmed Al Zeyoudi, said the UAE is seeking stronger regional partnerships to promote economic stability and growth. He said the UAE’s long-term goal was to diversify its economy and expand cooperation with countries such as Pakistan in trade and innovation.

Pakistan’s trade adviser in Dubai, Ali Zaib, said the country’s financial services sector currently earns about one billion dollars a year, but could reach five billion with deeper global connections.

ICAP President Saif Ullah and Vice President Samiullah Siddiqui said the event highlighted Pakistan’s growing recognition in the Gulf region. They noted that Pakistani professionals, especially in finance and digital services, could play a key role in supporting regional development.

Jean Bouquot, President of the International Federation of Accountants (IFAC), said finance professionals around the world must continue to improve their skills and embrace technology to remain effective in a changing environment. Ashfaq Yousuf Tola, President of the South Asian Federation of Accountants (SAFA), called for closer collaboration between South Asian and Middle Eastern institutions to enhance regional expertise and development.

The conference included discussions on trade, innovation, sustainability and new opportunities for economic cooperation between Pakistan and the Gulf countries.