ISLAMABAD, Dec 13: The Pakistan Business Council in UAE was formally launched in Abu Dhabi on Sunday to help promote trade, commerce and investment between the two countries.

The council was approved and registered by the UAE government and a formal announcement was made at a special press conference arranged by Abu Dhabi Chamber of Commerce and Industry, says a fax message received here on Monday.

The need for establishment of Pakistan Business Council for UAE was felt for a long time. "Pakistan has very strong friendly relations with UAE and the economic relations between the two countries are also deep rooted and multi-dimensional," said Pakistan's Ambassador in UAE Air Marshal (Retd) Syed Qaiser Hussain while addressing the press conference.

"The UAE is Pakistan's second largest global trading partner and it is also second largest source of home remittances from Pakistani expatriates", he said. Replying to a question Mr Hussain informed that UAE had very significant investments in Pakistan both at the governmental and private sector levels.

He urged the UAE investors to further avail the investment opportunities in Pakistan in sectors such as mineral development, oil and gas, information technology, agro-based industries, housing and tourism.

He hoped that the formation of the council would be a major step in the efforts to further strengthen bilateral relations and propel economic cooperation between the two countries. He advised the council to work cohesively and increase interaction between businessmen of the two countries. -APP