KARACHI: A top United Arab Emirates diplomat said on Wednesday his country was actively investing in Pakistan, as he highlighted the possibility of greater bilateral collaboration in food security while addressing a major economic conference.
UAE Consul General Bakheet Ateeq Al-Rumaithi was speaking at the Future Summit, a two-day event taking place in Karachi that aims to foster business ties and economic partnerships and has drawn participation from local and international leaders.
Pakistan has been working to enhance trade and investment to address a prolonged economic crisis that has compelled its governments to seek external financing from friendly nations and global lending organizations.
Among the various economic sectors the government plans to strengthen is agriculture, which has faced reduced yields, particularly amid erratic weather patterns attributed to climate change.
“The UAE is making significant investments in Pakistan,” Al-Rumaithi told the participants of the Future Summit. “There are opportunities for collaboration between the two countries in food security sectors.”
UAE Consul General Bakheet Ateeq Al-Rumaithi speaks during the Future Summit in Karachi on November 6, 2024. (Photo courtesy: Future Summit)
The UAE diplomat highlighted his country’s commitment to supporting Pakistan, noting that both nations share longstanding brotherly ties.
He underscored that Pakistani nationals, particularly in the health care sector, play a vital role in the UAE’s workforce.
Federal Minister for Finance and Revenue Muhammad Aurangzeb, also present at the conference, said the government’s policies were steering Pakistan toward economic stability.
During his address, he noted improvements in key economic indicators, citing “a decrease in the current account deficit, an increase in remittances, the stabilization of the rupee and a reduction in the policy rate,” according to state-owned Radio Pakistan.
The minister stressed the need for institutional reforms to enhance transparency, address gaps in areas like tax collection and leverage technological advancements to improve governance.
