Daily Times | Saturday, December 03, 2011   

UAE to cultivate agri goods in Pakistan

KARACHI: United Arab Emirates (UAE) is interested to cultivate agricultural goods in Pakistan and is also ready to make small dams for irrigation on the condition agricultural goods from Pakistan should not be stopped exporting to UAE. Dr Mirza Ikhtiar Baig, Chairman Pak-UAE Business Council said at UAE Trade and Investment Conference 2011, UAE Minister for Foreign Trade, Sheikha Lubna Bint Khalid Al Qasimi informed him. Mutual trade volume of both countries for the year 2010-2011 was $7.236 billion, out of which Pakistani exports comprised about $1.8 billion of rice, textile, meat, livestock, carpet and leather products, whereas the exports from UAE to Pakistan remained $5.4 billion including mostly petroleum products, paperboards, iron, plastic, machinery, etc. According to the World Bank report, UAE further intends to invest $6 billion for oil refinery project in Pakistan. Besides, UAE has announced a loan of $256 million for big dams in Pakistan on soft terms. He conveyed his concerns to the high authorities in Pakistan and a policy has been devised for this purpose and this issue has been also included in the agenda of the forthcoming Joint Ministerial Commission meeting. He said in this regard, Chief Minister Sindh has allotted agriculture land in Sindh to UAE for cultivation of high protein animal food ‘Alfalfa’ and exporting it to UAE. staff report