MoU signed between Pakistan, Philippines

Will set up joint business council to boost bilateral trade.

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Zakaria Usman signed a Memorandum of Understanding (MoU) with Philippine Chamber of Commerce and Industry for the formation of a joint Pakistan and Philippine Business Council.

The signing ceremony took place in a meeting held with Philippine Chamber of Commerce and Industry (CCI) in Manila.

“The formation of Pakistan-Philippine Joint Business Council is the accomplishment of a long desire of the business community of both countries. The Joint Business Council will contribute to bilateral trade and open new avenues for joint ventures in various sectors,” said Usman.



In the meeting with the Philippine CCI and Manila CCI, Usman highlighted the investment potential and incentives in Pakistan for foreign companies and emphasised people-to-people contacts in order to boost bilateral trade.

“Pakistan gives great importance to its relationship with Philippines, an important country of the Association of South East Asian Nations (ASEAN),” he said.

“Bilateral trade potential between Philippines and Pakistan is huge. The current level of trade needs to be further raised for better economic cooperation between the two countries.”

Philippines Ambassador in Pakistan, the head of Commercial Section of Philippines for South Asia and large number of members of Philippine (CCI) and Manila (CCI) were also present at the occasion.

Published in The Express Tribune, August 29^th, 2014.

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