The Sharjah Chamber of Commerce and Industry (SCCI) has launched the Pakistan Business Council (PBC) in the United Arab Emirates (UAE) to boost collaboration between businesses in the Gulf state and Pakistan, state media reported on Wednesday.
This move towards economic cooperation will enhance trade and investment exchange while mutual efforts will lead to economic development.
SCCI Chairman Abdullah Sultan Al Owais said the new council represents a significant addition to SCCI’s network of business councils. It will provide a platform for businesses to communicate, collaborate, and build partnerships that promote economic development.
The new council was a key part of SCCI’s strategy to expand the number of business councils and use them to increase economic collaboration and foster cross-border partnerships.
The value of non-oil foreign trade between the UAE and Pakistan reached AED 25.7 billion in 2022, marking a 30 percent increase compared to AED 19.8 billion in 2021, the SSCI chairman added. Additionally, the UAE is stepping up with a $10 billion (AED 36 billion) investment in Pakistan’s key economic sectors.
It will promote joint ventures between the two economies and increase jobs with the expansion of their businesses.
