Islamabad Chamber of Commerce and Industry (ICCI) and Pakistan American Business Association (PABA) have signed a Memorandum of Understanding (MoU) to work jointly for further improving bilateral trade and economic relations between Pakistan and USA.
For this purpose, a ceremony was held at Chamber in which Muhammad Ahmed Waheed President ICCI and Siddique Sheikh, President PABA signed the MoU.
By signing the MoU, ICCI and PABA will work in close collaboration with their respective governments to further enhance business linkages between the private sectors of both countries. They will work jointly to enhance bilateral cooperation between the two countries in areas of economic development including commerce, industry, SMEs, agriculture, education, business information exchange, hospitality &tourism, import-export, infrastructure, investments, jewelry&handicrafts, marbles, pharmaceuticals, professional &technical services, real estate, retail, steel, student exchanges, taxation, transportation &energy, telecom &information technology.
Speaking at the occasion, Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce & Industry said that Pakistan and USA have great potential to further enhance bilateral trade in many products and to exploit all untapped potential, establishing strong business linkages between private sectors of both countries was the key requirement. He said that ICCI and PABA will work together to foster greater business linkages between the member companies of both trade bodies to explore JVs and investment in each other country. He said both sides shall provide continuous support to each other and exchange information on business and investment opportunities in each other country so that business community of both sides could take benefit of all potential business opportunities.
Siddique Sheikh, President, Pakistan American Business Association said that PABA was established in 1986 in Washington D.C. and it provided leadership training, community service, business networking along with hosting highly successful business conventions and trade shows. He said that PABA and ICCI would actively work with close cooperation to achieve the objectives envisaged in the MoU for the mutual benefit of business community of both countries.