KARACHI, Feb 3: Karachi Chamber of Commerce and Industry (KCCI) signed seven memoranda of understanding (MoUs) with seven countries and held meeting on bilateral relations with delegations of various countries here on Thursday at the second day of the Expo Pakistan 2005.

KCCI President Khalid Feroz signed MoUs with Glasgow City Council (UK), Netherlands Pakistanis Business Council, Jeddah Chamber of Commerce and Industry, Confederation of Nepalese Industries, Confederation of Indian Industry, Korean Importers Association, Northern Chamber of Commerce in Szczccin, Poland.

These MoUs would go a long way in promoting bilateral trade and to undertake joint studies to determine the support which might benefit each country. Agreements were also reached with various countries to extend cooperation on exchange of information, professional experience, information on products and industrial processes and technological advancements.

Exchange of delegations between India and Pakistan was also agreed to extend cooperation to each other in the promotion of trade fairs and exhibitions in the both countries.

Khalid Firoz said that in the current era of globalization, the survival of developing countries hinged on regional cooperation, particularly after the dismantling of the textile quota system and the enforcement of WTO regime.

Later, the KCCI president told Dawn that the chamber was expected to sign more MoUs with various countries whose representative trade bodies were visiting the Expo 2005.

He said that deals were also being struck between the exporters of various countries with Pakistani counterparts. The details would come out after the conclusion of the mega event.

He said Pakistan had a lot of potential to fulfil the needs of the visiting countries in various fields and hopefully this event would help finding more buyers and investors in various areas.