UAE to invest in Pakistan’s agriculture sector
The United Arab Emirates (UAE) will undertake a number of joint ventures in Pakistan’s agricultural sector for which it has identified land for cultivation in Punjab and Sindh, a UAE diplomat said recently.
Suhail Bin Matar Al-Ketbi, the UAE’s consul general in Karachi, said that crops to be cultivated on the acquired land will both be exported and sold in the local markets. He said Pakistan has huge untapped cultivatable land which has attracted the UAE to initiate new projects in the sector.
“Pakistan owns naturally potential fertilised land for crops’ cultivation,” he said, adding that the UAE would bring huge investment and new technology in agriculture sector in Pakistan.
The UAE has so far invested over $20 billion in Pakistan. The investments were made in areas including agriculture, communication, power, transportation and aviation. The volume of trade between the two counties stood at approximately $11 billion last year, he said, adding that UAE imports leather, textiles, foods and agriculture goods primarily from Pakistan.
Giving details about UAE single country exhibition to be held in Karachi from November 30 to December 2, 2011, at Karachi Expo Centre, Mr Al-Ketbi said 90 companies are setting up their stalls, and most them are investors.
“The purpose of the exhibition is to bring the businessmen of two counties closure and exploit the available potential in trade and investment,” said Mr Al-Ketbi.
