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UAE envoy visits Pakistan Stock Exchange
A sign of the Pakistan Stock Exchange is seen on its building in Karachi, Pakistan January 11, 2016. REUTERS/Akhtar Soomro/File Photo

UAE envoy visits Pakistan Stock Exchange

KARACHI: Ambassador of United Arab Emirates (UAE), Hamad Obaid Al Zaabi visited Pakistan Stock Exchange (PSX) and discussed the matters of mutual interest, business prospects, strengthen friendship and peaceful cooperation between the two countries.

UAE Counselor General in Karachi, Bakheet Ateeq Al-Romaithi and Advisor to the Ambassador Ahmad Abdulla Albalooshi. The diplomats were received by PSX’s Acting Managing Director Muhammad Rafique Umer, said PSX a press release on Friday.

PSX Acting MD apprised the UAE Ambassador of the current economic situation of Pakistan and steps taken by PSX for the development of Pakistan’s capital market.

He also gave a presentation on PSX operations and future projects, its ownership structure and eco-system for stock investments. The foreign guests took keen interest.

The UAE Ambassador, showing his pleasure for visiting PSX, shared his thoughts about the bright prospective of Pakistan and the potential contribution of his country including UAE companies in the development of Pakistan.

The Acting MD-PSX informed the guests that Pakistan and UAE had very old bilateral relations– both at country and institutions level – and in this regard PSX (formerly Karachi Stock Exchange) had executed MoU in the past with Abu Dhabi securities market and Dubai financial market.

He mentioned that Pakistan and the UAE enjoyed extremely close and relations, founded on deep-rooted cultural affinities, shared faith and traditions, geographic proximity and identity of interests.

These relations had evolved into wide-ranging co-operation in various fields. UAE had been one of the friendly countries which extended economic assistance to Pakistan in its difficult times.