Pakistan, UAE to fast-track Comprehensive Economic Partnership talks

Pakistan – UAE – (Special Correspondent / Web Desk) – Pakistan and the United Arab Emirates have reaffirmed their commitment to speed up negotiations on a comprehensive trade and investment deal, the Commerce Ministry said Wednesday. The announcement came after a meeting between Pakistan’s Commerce Minister Jam Kamal Khan and UAE Ambassador Salem Mohammed Salem Al Zaabi, where both sides agreed to work closely to advance discussions on the Pakistan-UAE Comprehensive Economic Partnership Agreement (CEPA).

The agreement aims to expand economic cooperation by improving market access, attracting investment, and boosting collaboration in areas such as trade, logistics, ports, infrastructure, and manufacturing. Pakistani officials hope the framework will turn the countries’ long-standing political and people-to-people ties into a stronger and more balanced trade and investment relationship.

“Both countries are eager to turn this closeness into a robust and balanced trade and investment partnership that truly reflects our potential,” Khan said. He also highlighted Pakistan’s ongoing economic reforms, emphasizing the government’s focus on creating a more supportive environment for business and investment, despite short-term challenges faced by the private sector during economic stabilization efforts.

He said the government’s emphasis was on medium-term growth, export expansion and regional connectivity, particularly with Gulf countries.

The UAE ambassador “lauded Pakistan’s market size, human capital and strategic location,” the statement said, conveying his country’s “strong interest in expanding cooperation in trade, logistics, ports, infrastructure, manufacturing and investment facilitation.”

Pakistan and the UAE share close economic relations, with Abu Dhabi having provided critical support during periods of financial stress, including deposits at Pakistan’s central bank that helped Islamabad shore up foreign exchange reserves amid a severe balance-of-payments crunch.

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Deputy Prime Minister Ishaq Dar said last month Pakistan was engaging with the UAE on converting $1 billion in deposits into equity investment, potentially involving stakes in companies linked to the Fauji Fertilizer Group, a move that would eliminate repayment obligations on that portion of the funds.

The commerce ministry said both sides also discussed joint ventures, trilateral cooperation in third-country markets and collaboration in regions such as Central Asia and Africa, and agreed to continue working closely to advance the trade agreement process.