Islamabad, Aug 3: A major step toward enhancing economic collaboration between the business community in the emirate and its counterpart in Pakistan has been taken with the official opening of the Pakistan Business Council in Sharjah by the Sharjah Chamber of Commerce and Industry (SCCI). The objectives of this project are to increase trade and investment flows, take advantage of opportunities for mutual gain, and support the expansion of the private sector while strengthening its role in overall economic development.
Attending the inaugural ceremony, which took place at SCCI’s headquarters, were Waleed Abdul Rahman Bukhatir, Second Vice Chairman of the Sharjah Chamber of Commerce and Industry, Faisal Niaz Tirmizi, Ambassador of the Islamic Republic of Pakistan in the United Arab Emirates, and Abdallah Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce and Industry.
Along with Syed Muhammad Tahir, Chairman of the Pakistan Business Council’s Founding Committee, Mohammad Ahmed Amin Al Awadi, Director-General of the SCCI, Abdulaziz Al Shamsi, Assistant Director-General for the Communication and Business Sector at the SCCI, Fatema Khalifa Al Muqarrab, Director of the International Relations Department at the SCCI, and representatives of the Pakistani business community in Sharjah were also present.
The establishment of the Pakistan Business Council in Sharjah, according to Abdallah Sultan Al Owais, constitutes a noteworthy addition to the network of business councils functioning under the Sharjah Chamber’s auspices. These councils provide the perfect setting for businesses to network, work together, and create mutually beneficial alliances.
He went on to say that the new council is a crucial component of SCCI’s plan to increase the number of business councils and leverage their potential to improve trade and investment relations with international business communities, promote cross-border partnerships between investors and entrepreneurs, and enhance economic collaboration.
In 2022, non-oil foreign trade between the United Arab Emirates and Pakistan was valued at AED25.7 billion, a 30 percent rise from AED19.8 billion in 2021. This expansion demonstrates how firmly the leaderships of both nations are committed to strengthening their bilateral ties and advancing them toward greater wealth and development. Furthermore, Pakistan’s main economic sectors are receiving a US$10 billion investment from the UAE.
According to Al Owais, the Pakistan Business Council’s Sharjah launch is based on a strong basis. It is anticipated to be crucial in fostering long-term alliances, increasing commerce and investment between the two corporate groups, and advancing bilateral economic relationships to unprecedented levels in order to satisfy the goals of both parties. He continued by saying that Pakistani business leaders now have a deeper means to interact with Sharjah’s business community thanks to the new council. It acts as a vital forum for promoting new investment initiatives in the emirate, investigating various experiences, and exchanging ideas and views.
He emphasized that Sharjah’s favorable business climate is a result of its strategic advantages, first-rate logistics, encouraging laws, and strong infrastructure.The help of the new council, Pakistani company owners will have more chances to advertise their companies throughout the United Arab Emirates, enter new markets in the region, and participate in collaborative projects including trade exhibitions, conferences, and delegate exchanges. Additionally, it will ensure that Pakistani companies take use of the wide range of services provided by the Sharjah Chamber by representing and defending their interests.
Faisal Niaz Tirmizi, on his part, commended the Sharjah Chamber for its innovative work in founding the Pakistan Business Council and for its ongoing assistance to business owners. He pointed out that these initiatives will greatly expand job prospects and stimulate innovation in a variety of industries, thus boosting the value of both economies.
Syed Muhammad Tahir, in the meantime, emphasized how much the Pakistani business community values the Sharjah Chamber’s efforts to develop fresh, cutting-edge commercial prospects for innovators and investors working in a variety of industries. He emphasized how important the council is to supporting the private sector’s involvement in Sharjah’s economy and creating new opportunities for future business community cooperation between the two countries.
