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UAE seeks to boost economic ties with Pak

The UAE plans to strengthen economic ties with Pakistan, particularly in the field of trade and investment, as it underlined its support to Islamabad in areas of development and humanitarian assistance.

world Updated: Oct 11, 2009 20:38 IST

The UAE plans to strengthen economic ties with Pakistan, particularly in the field of trade and investment, as it underlined its support to Islamabad in areas of development and humanitarian assistance.

Obaid Humaid Al Tayer, UAE's Minister of State for Financial Affairs, discussed ways to boost the country's relations with Pakistan, a key trading partner of the UAE, at a meeting with Shaukat Tarin, Advisor to Pakistan Prime Minister on Economic Affairs.

They discussed ways to strengthen economic relations, particularly in trade and investments, on the sidelines of IMF and World Bank meetings in Istanbul.

The UAE minister underlined his government's support to the Pakistani people in the areas of development and humanitarian assistance.

The UAE's exports to Pakistan increased by 7.3 percent from 900 millions Dirhams in 2007 to 1.5 billions dirham on 2008, making Islamabad a key trading partner of the UAE, a statement released on behalf of the UAE's Ministry of Economy said.

Crude oil, chemicals, rubber, plastics, heavy equipments and engineering products and pure gold are the most important exports of the UAE to Pakistan.