The Lahore Chamber Of Commerce & Industry & MICCI Ink MOU To Enhance Cooperation

The Lahore Chamber of Commerce & Industry (LCCI) and Malaysian International Chamber of Commerce & Industry (MICCI) have inked a memorandum of understanding to work together for improving trade, commerce and economic relations between the two countries

LAHORE,(UrduPoint / Pakistan Point News - 09th Feb, 2018 ) :The Lahore Chamber of Commerce & Industry (LCCI) and Malaysian International Chamber of Commerce & Industry (MICCI) have inked a memorandum of understanding to work together for improving trade, commerce and economic relations between the two countries.

LCCI President, Malik Tahir Javaid and President MICCI Datuk Wira Jalilah Baba inked the MOU on behalf of their respective organizations. Members of the LCCI delegation Shahid Nazir, Awais Saeed Piracha, Muhammad Wasim, Haseeb Khawar, Shabbir Bhatti, Malik Muhammad islam, Muhammad Farooq, Mian Faisal Majeed, Muhammad Arshad Bhatti and officials of Malaysian International Chamber of Commerce & Industry were also present on the occasion.

According to the agreement, both chambers would exchange information relating to their respective markets, trade, economic & industrial policies, investment & foreign exchange laws and custom tariffs.

The LCCI and the MICCI would facilitate exchange of delegations between two countries, identify the areas of investment for mutual benefits under joint ventures. Both countries will organize trade fairs or export festivals in its region for benefit of the guest chamber on a reciprocal basis.

They would identify obstacles in trade and economic cooperation and submission of proposals to overcome them.

Both organizations would also launch and collection of statistical data for exploring possibilities of trade, investment, industrial and technological cooperation.

LCCI presidents Malik Tahir Javaid said that this historic agreement would be proved a milestone and help achieve mutual economic targets. He said that Pakistan was focusing Malaysia as a lucrative destination for Pakistani merchandise.

He said that China Pakistan Economic Corridor had created immense investment opportunities. He advised the Malaysian investors to come here and step into joint ventures with their Pakistani counterparts to reap benefits of CPEC.

He also threw light on infrastructure and energy related projects in Pakistan and invited the Malaysian businessmen for investment. Malik Tahir Javaid said that Malaysian small and medium industries had great potential to flourish through joint ventures.

President MICCI Datuk Wira Jalilah Baba also welcomed Memorandum of Understanding between the two countries saying that it would ensure timely dissemination of trade related information. He said that Pakistani businessmen should enhance cooperation with Malaysian counterparts.