A Continuous Progression towards Fortune

“The meeting of two personalities is like the contact of two chemical substances: if there is any reaction, both are transformed.” – Carl Jung

Pakistan is a state where the economy is fluctuating with each passing day with the revival of certain economic trends over the past years. In recent years, Pakistan has gone through disastrous changes with the unprecedented situation caused by terrorist attacks which has an upsetting impact. One of the reasons behind Pakistan’s downward growth trajectory is the chronically reduced personal investment within the economy. Governments have tried to give a boost to economic growth by encouraging private investment in the economy with little success.

As time goes on; growth in Pakistan awestruck to the upside recent year, supported by improving domestic demand, record-high remittance inflows, a narrow targeting of lockdowns, and accommodative monetary policy. There are countries with whom Pakistan can reinstate terms; UAE is one of them. As UAE uplifts ban for vaccinated residents owing to the preceding events that will eventually elevate boost on the economy. The international city and regional business and tourism hub are counting on the fair to offer its economy a lift that is affected by the economic meltdown due to pandemic outbreak. Expo 2020 is primarily a global strategy to unveil human ingenuity with diversity. United Arab Emirates stock markets had mixed fortunes as they shifted to a new working week to better align with global markets. The government of Pakistan is reaching out to the business community to create awareness about investment opportunities in Pakistan. In addition to general government expenditure, the government exerts significant control over the economy through a comprehensive regulatory framework, control of state-owned entities, direct market interventions, and ownership of land and capital. The firms from the UAE operating inside Pakistan also have expansion plans as soon as the challenges aligned with the pandemic subside. Trade relations are predictably flourished as the UAE invites Pakistan to expand its profile through the annual Dubai Expo. Pakistan acknowledges the value of the UAE as a hub that can help integrate with regional value chains.

To look into holistic economic cooperation, recent meetings among foreign offices have agreed to put forward an idea of further enhancement which in turn could map trade and investment opportunities, would be helping in post-pandemic recovery in both countries. I propose it is naïve to expect instant results of bilateral growth but I believe Pakistan is particularly interested in attracting foreign direct investment for priority special economic zones – some of which have already been recently visited by the private sector from the UAE. The private sector and associations including us have stepped up their efforts to invite delegations from the UAE for joint ventures in value-added textile, high-end sports goods, pharmaceuticals, and the corporate sector.