UAE cos to make long-term investments in Pakistan’



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Magnificent 7 ‘UAE Expo 2011’

‘UAE cos to make long-term investments in Pakistan’

KARACHI: Speakers at United Arab Emirates (UAE) trade and investment conference 2011 at Karachi Expo Centre said Thursday that Pakistan was a growing market and UAE companies operating here would stay and make long-term strategic investment.

Pakistani Ambassador in UAE, Jamil Ahmed Khan said 40 percent of exports to UAE are re-exported to African countries and could be enhanced from 2 percent of Emirates’ global trade to 6 percent with the help of planned efforts. He advised Pakistani businessmen to take full advantage of opportunities in the Emirates for re-export business.

Federation of Pakistan Chambers of Commerce and Industry Acting President Khalid Tawab said business chambers are playing their full role to expand bilateral trade and investment between Pakistan and UAE.

Pakistan Telecommunication Company Ltd (PTCL) President and CEO Walid Irshaid said PTCL would make more investment in Pakistan to fully transform it into a world-class telecom company. “We have transformed PTCL into a modern company offering all ICT products in Pakistan and we are here to stay,” he said while sharing the experience of his company in Pakistan and investment opportunities. He said Pakistan is a growing market and we are making long-term investment to offer world-class network to local consumers who are quality conscious. Do not underestimate Pakistani consumers, he suggested.

Etihad Airways Asia Pacific North and Indian sub continent Regional General Manager Joost den Hartog said his airline was doing great in Pakistan. “We are running daily flights from Karachi, Islamabd, Lahore to UAE and twice a week from Peshawar. We are planning to enhance our operations in Pakistan in future with the expansion of our fleet.” He said his airline is now catering to Pakistanis living in USA, Canada, Europe and Middle East and will soon start lifting Pakistani passengers for Frankfurt and Munich.

Bank Alfalah Chief Executive Officer Atif Aslam Bajwa said his bank is growing fast in Pakistan and we have plans to further expand in this country.

FlyDubai Chief Executive Officer Ghaith Al Ghaith said the business of his airline has increased in Pakistan by 10 percent and 12 percent worldwide and planning to further expand the business in the country. Dubai Islamic Bank Chief Executive Officer Junaid said his bank planned to expand its branch network from 73 to 100 in Pakistan by next year and offer the entire range of Shariah compliant products in Pakistan. staff report