Pakistani Envoy: UAE-Pakistan Trade Surpassed $10.9 Billion in FY24

Pakistan-UAE Trade Surpasses $10.9 Billion in FY24, Reflecting Strong Bilateral Ties

ISLAMABAD: Pakistan’s ambassador to the United Arab Emirates (UAE), Faisal Tirmizi, stated that the two countries’ economic ties are still growing, with bilateral trade surpassing $10.9 billion in fiscal year 2023–2024. The increase highlights how closely the two countries are working together in many areas.

Ambassador Tirmizi released the figures through the UAE’s official news agency WAM, saying the trade volume covers both goods and services. He underlined that the growth in trade is a testament to the strong economic foundations of Pakistan and the UAE.

The two countries have made progress towards deepening their trade relations in recent months. They signed agreements worth more than $3 billion in January 2024, covering key sectors such as infrastructure development, economic zones and railways.

UAE – A Key Economic Partner

After China and the US, the UAE is Pakistan’s third largest trading partner. According to data from the UAE Ministry of Foreign Affairs, it has provided more than $10 billion in the past 20 years, making it a significant source of foreign investment in Pakistan.

Ambassador Tirmizi emphasized that the two nations’ goods trade totaled $8.41 billion in FY24. While imports dropped 14.45% to $6.33 billion, Pakistan’s exports to the UAE increased an astounding 41.06% to $2.08 billion. This resulted in a 28.28% drop in the trade deficit—a significant improvement for Pakistan’s trade balance.

The entire trade volume in the services sector fell by 20.54% year over year to $2.56 billion.

Exports increased by 7.53% and goods commerce increased by 21.63% during the July 2024–January 2025 period, indicating further momentum in trade.

Diaspora and Investments Make the Partnership Stronger

The importance of the Pakistani diaspora in the United Arab Emirates was also highlighted by Tirmizi. The Pakistani community sent $6.7 billion in remittances in 2024 alone, and estimates indicate that this amount will rise to above $7 billion in 2025.

Currently, around 19 Emirati companies operate in Pakistan, with the UAE investing in key industries including telecommunications, information technology, tourism, oil and gas, banking, housing, and real estate.

Among the notable collaborations, Tirmizi mentioned agreements signed by UAE giants Abu Dhabi Ports Company and DP World, focusing on the development of Karachi Port Trust (KPT) and associated railway infrastructure. These projects are seen as symbols of the UAE’s enduring commitment to enhancing Pakistan’s connectivity and economic capacity.

“These milestones not only reflect our growing trade figures but also highlight the UAE’s long-term vision and confidence in Pakistan’s development potential,” Tirmizi said.