- Pakistan must work closely with UAE govt to fuel economic growth
Interview with Mr. Waqas Kodvavi — finance professional
PAGE: Tell me something about yourself, please:
Waqas Kodvavi: I am an Associate Member of ICMAP and have done my master’s in Economics from KU. I have been working as CFO of Premier Sales (Pvt) Limited since 2010. Premier Sales (Pvt) Limited is a distribution company, which is one of the biggest distribution setups in Pakistan.
PAGE: What is your take on bilateral trade between Pakistan and the UAE?
Waqas Kodvavi: Bilateral trade in the case of Pakistan and the UAE can play a pivotal role for both ends. Pakistan having a composite of industry and agriculture can provide both finished goods and raw materials for industries and consumers in the UAE, which includes clothing, garments, leather, grains, foods & spices, confectionary, medicines, stencils & sports items. Apart from this, an abundance of human resources can help to provide on-board and online services to the UAE. In the case of the UAE, Pakistan can get various raw materials and finished goods that are sourced from various countries at economical cost if traded in a bilateral trade agreement.
PAGE: What is your standpoint on the UAE investment in Pakistan?
Waqas Kodvavi: The UAE is a wealthy nation and always invests in big projects across the world, especially in the GCC. The UAE has numerous avenues of investment in Pakistan which will provide long-term benefits to both countries. These investments range from the power sector to agriculture, technology to HR sourcing. All can bring fortune to both countries and will create job opportunities.
PAGE: Do you reckon our policies are working wonders in terms of exporting more products to the UAE?
Waqas Kodvavi: I don’t think that there is any long-term policy to address any export with the UAE or any other country. The government needs to provide consistent policies since unclear or inconsistent trade policy and regulatory framework create uncertainty for business. A stable and predictable policy environment is crucial for fostering a conducive environment for export enhancement. For policy making all stakeholders and trade bodies should be on board.
PAGE: What is your take on government-to-government contacts between Pakistan and the UAE?
Waqas Kodvavi: As a close neighbour, the UAE, having seaports well connected and in reach with the shortest path there is no other thought that both governments should have best of the relations in every field. However, I would emphasise our part as the officials to lessen the gap as other neighboring countries are having remarkable connections with the UAE. They have deep business and political relations. By working closely with the UAE government, we can further explore opportunities to create a more conducive environment for the Pakistanis working in the UAE.