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FINANCIAL NEWS
UAE, Pakistan trade hits USD10b
07 Dec 2014
(MENAFN) Bilateral trade between the UAE and Pakistan has reached USD10 billion, resulting in the UAE becoming Pakistan’s largest trading partner in the world, as Pakistan’s imports from the UAE reached nearly USD7.7 billion, while exports amounted to nearly USD2.3 billion in 2013-2014, Emirates 24/7 reported.
Pakistan’s major exports are textiles, machinery and food items, while among imports oil is the biggest imports, as the value of oil imports reached USD5 billion while the value of non-oil imports amounted to USD2.75 billion.
Pakistan, which is also one of the largest importers of gold from Dubai, said that there is potential to enhance the bilateral trade between the two countries and expand it by USD2 billion due to the lifting of ban on poultry imports by the UAE and removal of gold duties by the Pakistan government.
“There are 1.3 million Pakistanis living in the UAE and they need to play more active role in the development of the UAE and Pakistan. We should strive more for the growth of the UAE economy as it’ll offer more opportunities for Pakistanis residing in the emirates,” Consul General of Pakistan in Dubai said.
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