business bodies ink mou to explore new avenues, deepen partnership
LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) and the UK-Pakistan Trade and Investment Board (UPTIB) have signed a memorandum of understanding (MoU) to strengthen economic ties between the business communities of Pakistan and the United Kingdom.
This agreement represents a significant step toward enhancing trade, investment, and economic collaboration between the two countries. The MoU was signed by LCCI President Kashif Anwar and UPTIB CEO-Pakistan Tajammel Hussain. Speaking on the occasion, Anwar expressed optimism about the partnership and described the MoU as a milestone in efforts to enhance trade with the UK.
“By facilitating mutual economic cooperation, we are opening doors to new opportunities and strengthening existing ties. The Lahore Chamber is committed to supporting its members in achieving sustainable economic growth,” he remarked. Anwar emphasized that the partnership aims to foster cooperation, promote business opportunities, and facilitate trade in goods and services among members of both organizations.
Under the terms of the agreement, both parties will exchange business publications, research reports, market surveys, and other relevant materials regularly. The MoU also outlines plans to organize business-to-business meetings, exhibitions, seminars, and conferences to highlight economic and export opportunities. The MoU emphasizes the importance of resolving trade and commercial disputes through alternative dispute resolution (ADR) mechanisms, encouraging members of both organizations to utilize the ADR centers established by the LCCI and UPTIB.
In his remarks, UPTIB CEO-Pakistan Tajammel Hussain noted that Pakistan is among 65 countries benefiting from the UK’s duty-free imports under a new trade scheme. He revealed plans to attract potential investors to Pakistan to boost economic growth and strengthen trade relations.
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