KARACHI: UAE Consul General in Karachi Dr Bakheet Ateeq Al Rumaithi announced on Thursday that talks for a free trade agreement (FTA) between the United Arab Emirates and Pakistan are in advanced stages and would come into effect as soon as Islamabad signs the agreement.

The envoy also categorically rejected the impression that the UAE is rejecting visas to Pakistanis, emphasising that Pakistan remains a top priority for the UAE for business and investment.

The Consul General made these remarks while talking to the media on the sidelines of the opening of Emirates World in Karachi.

“We are just waiting for your country (Pakistan)…to sign it,” Dr Bakheet Ateeq Al Rumaithi told Business Recorder while updating on the current status of the FTA between the two countries.

He also highlighted that the UAE Ambassador Hamad Obaid Ibrahim Salim Alzaab, who was also present on the occasion, is actively working to materialize the FTA.

The FTA would increase trade activities by reducing import duties on various goods between Pakistan and UAE, which is Pakistan’s third-largest trade partner after China and the United States.

“He (Hamad Obaid Ibrahim Salim Alzaab) has already held meetings with Karachi’s business community,” said Al Rumaithi, adding that the ambassador would also meet businessmen in the towns and cities located in the upper Sindh including Hyderabad and Khairpur.

Earlier, Former Interim Minister for Commerce, Industries, and Production Dr Gohar Ejaz informed in September 2023 that the two countries were near achieving FTA “which would focus on trade, investment, and economy.”

According to the United Nations data, cited by tradingeconomics.com, the trade volume between Pakistan and UAE stood at $6.22 billion in 2023, comprising Pakistan’s imports from UAE at $4.82 billion and exports at $1.40 billion in the year.

UAE new investment in Pakistan:

Referring to the grand opening of Emirates World at Sky Tower in Clifton, Karachi, UAE Consul General remarked: “This is a great example of new business and investment opportunity for UAE in Pakistan.”

“The Emirates World is perhaps the first in the region, underscoring Pakistan’s importance for UAE…Pakistan’s economy is growing. It would further progress in 2025.”

UAE Visa for Pakistanis:

Addressing concerns on visa issuance, Dr Bakheet Ateeq Al Rumaithi categorically stated: “There are no issues in issuing visas to Pakistan.”

Earlier, however, many Pakistanis complained the Emirates had rejected visas without giving any concrete reasons.The development suggests that the UAE may have revised its visa policy for Pakistan.

Some speculated that UAE had decided to issue working visas only to highly skilled workers from Pakistan.