ABU DHABI, June 4: President Gen Pervez Musharraf and his UAE counterpart Shaikh Khalifa bin Zayed Al Nahyan on Saturday agreed to take their relationship to a new level through enhanced economic ties. President Musharraf expressed the hope that the oil-rich Gulf country’s business community would avail tremendous investment opportunities in Pakistan.

The two leaders discussed many regional and international issues of common concern during an exclusive meeting at the UAE Presidential Palace. They also exchanged views on the proposed OIC reforms aimed at making the 57-member body an effective voice of the Muslim world.

President Musharraf briefed the host leader about Islamabad’s efforts for establishment of durable peace in South Asia through the resolution of the Kashmir dispute and other outstanding issues with India.

About Pakistan’s economic scenario, Gen Musharraf said the country had achieved 8.3 per cent growth rate in the outgoing year, stating that it would help maintain upward trend and reduce poverty through generation of job opportunities. The industrial and agricultural sectors, he said, had registered robust growth and added to the momentum of economic turnaround.

The president said Pakistan’s annual exports were likely to cross $14 billion mark this year, he said.

“Pakistan has one of the most congenial business environments in the region as investors enjoy full legal protection for their investment, have 100 per cent equity with no bar on transfer of dividends.

“In addition, a hard working and skilled workforce makes the country a natural choice for international entrepreneurs,” he said. Shaikh Khalifa expressed deep admiration for Pakistan’s economic turnaround.

He lauded Gen Musharraf’s efforts for steering the Muslim world out of its present turmoil through a focus on socio-economic development and resolution of long-standing political disputes affecting the Muslim countries.

The host leader said he would encourage UAE entrepreneurs to explore more opportunities for investment in Pakistan.

FATEHA: President Gen Pervez Musharraf also visited the grave of former president and founder of the United Arab Emirates, Shaikh Zayed bin Sultan Al Nahyan, and offered Fateha.