Pak-US bilateral trade MoU signed

ISLAMABAD: For joint efforts to further improve bilateral trade and economic relations between Pakistan and USA, a Memorandum of Understanding (MoU) was signed between the Islamabad Chamber of Commerce & Industry (ICCI) and Pakistan American Business Association (PABA) here on Thursday. The MoU was signed by President ICCI Muhammad Ahmed Waheed and President PABA Siddique Sheikh during a ceremony held at Chamber. 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, President ICCI Muhammad Ahmed Waheed 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. President, Pakistan American Business Association Siddique Sheikh 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.