Chairman of Sharjah Economic Development Sheikh Tariq Bin Faisal Al-Qassimi met with Pakistani President Pervez Musharraf on a recent visit to Islamabad. Issues discussed included tapping the business potential and opportunities for further strengthening the mutually beneficial relationship between the United Arab Emirates (UAE) and Pakistan.
Conveying the regards of Member of the Supreme Council and Ruler of Sharjah Sheikh Sultan Bin Mohammed Al-Qassimi, Sheikh Tariq expressed their hope that the strong relations enjoyed by Pakistan and the UAE will be further boosted.
Overseas remittances into Pakistan through banking channels have increased significantly, especially from the Gulf Cooperation Council (GCC), with remittances from Non Resident Pakistanis, currently standing at about two billion dollars.
Sheikh Tariq stressed the need to remove the obstacles that are impeding the rate of progress of key projects that would prove mutually beneficial to the two countries. He also met with Federal Finance Minister Shaukat Aziz and Prime Minister Zafarullah Khan Jamali in separate meetings, to discuss ways of improving investment and trade between the two countries.
Pakistan’s $295 billion economy has immense potential with an expected annual growth of four percent. The World Bank loaned Pakistan $374 milliob for the financial year 2001; while the US provided aid worth $600 million, in addition to the $39 million restructuring loan given earlier. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
