Commerce Reporter
PESHAWAR: Sarhad Chamber of Commerce and Industry (SCCI) and Pakistan Business Council Sharjah (PBCS) have signed a Memorandum of Understanding to jointly work for strengthening bilateral trade, investment and business cooperation.
The MoU signing ceremony was held at chamber house here on Saturday and attended by SCCI President Fazal Moqeem Khan and PBCS Vice Chairman Aamir Hassan.
Senior Vice President SSCI, Abdul Jalil Jan, PBCS Secretary General Salman Wisal, and members were present during the ceremony.
As per the agreement, both sides would initiate joint efforts to improve the current mutual trade volume. Similarly, both parties would collaborate to enhance investment, promote bilateral trade and strengthen institutional cooperation.
They will also develop a joint framework to increase trade volume and organize capacity-building training sessions for members in the field of investment, the agreement said.
SCCI and PBCS would also exchange information on investment policies, regulations, procedures, incentives and opportunities. The agreement also includes the exchange of business delegations, promotion of research activities, identification of potential investment opportunities and joint projects, as well as the exchange of technical experts.
In addition, both parties would share regular updates on economic, trade, and investment developments.
Speaking on the occasion, Fazal Moqeem described the agreement as a milestone in strengthening mutual cooperation in trade and economic sectors. He noted the immense potential for further collaboration between the two countries.
Moqeem emphasized that KP offers vast opportunities for investment in sectors such as oil and gas, hydropower generation, mining, minerals, gemstones and other key industries.
PBCS Vice Chairman said that collaboration would boost the bilateral economic and trade relations besides it would also become instrumental for exchange of expertise, research and highlight the potentials of the both countries.
Later, officials from both sides exchanged documents of the agreement.
