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Pakistans exports to UAE doubles in the last five years

Pakistans exports to the UAE have doubled in the last five years from $727.49 million in 2001-02 (July-June) to estimated $1.4 billion in 2005-06,

Amounting to 10 per cent of Pakistan's global exports, according to figures available from the commercial section of the Pakistan Consulate in Dubai.

The total trade volume between the two countries has also more than doubled in the five year period from $2 billion to $4.4 billion.

The trade balance is in favour of the UAE mainly due to import of petroleum, iron ore, plastic material, chemical products and semi-manufactured gold by Pakistan.

Pakistan's outgoing commercial counsellor, Najeeb R. Abbasi, explained that Pakistan was able to double its exports to the UAE after Pakistani businessmen created a foothold in the UAE. The exporters improved the quality of their goods and increased their participation in exhibitions in the UAE, the Pakistan government provided export incentives, aggressive marketing was done by the traders and the mission, and the WTO provided a level field for textiles along with the introduction of stiff reformative measures.

He said that the sharp rise in oil prices and the higher imports of automobile machinery to meet the demands of increased economic activity in Pakistan were the reasons for the increase in the value of imports from the UAE.

Pakistan's major exports to the UAE include textile and garments, tents and canvas, rice, leather & leather goods, footwear, surgical instruments, sports goods, carpets and rugs, engineering goods, jewellery and fish and fish preparations. Food products and home textiles for the hospitality industry were among the new products.

Pakistan Centre

Najeeb said that under a cooperation agreement signed in September 2005 between Sharjah Chamber of Commerce and Industry and government of Pakistan, the government of Sharjah has allocated 1000 square meters of land for establishing the Pakistan Trade Centre in Sharjah.