MoU for business council with Philippines signed
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Philippines Chamber of Commerce and Industry (PCCI) on Thursday signed a memorandum of understanding (MoU) in Manila to form a business council of both countries.
FPCCI President Zakaria Usman said in a statement issued on Thursday that business communities of both sides had longed for the Pakistan-Philippines Joint Business Council.
Usman and his Filipino counterpart hoped that the council would boost bilateral trade and open new avenues for joint ventures in various sectors.
In the meeting with the Philippines CCI and Manila CCI, the Federation of Pakistan Chambers of Commerce and Industry president highlighted the investment potential and incentives for the foreign companies in Pakistan.
He underscored the geographical advantages Pakistan enjoys for being the gateway to Central Asian Republics and the Middle East.
Current bilateral trade is low given the huge trade potential between the countries, he said.
Published in Dawn, August 29th, 2014