KARACHI, June 16: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Federation of UAE Chamber of Commerce and Industry (FUCCI) have agreed to establish Pakistan-UAE Joint Business Council.

According to FPCCI here on Saturday, both the federations have inked a memorandum of understanding (MoU) during the ninth Session of Pakistan-UAE joint ministerial meeting held in Islamabad.

The Pakistan-UAE Joint Business Council comprises a total of 20 members, 10 members from each side.

While commenting on the establishment of Pakistan-UAE Joint Business Council, Dr Mirza Ikhtair Baig informed that the establishment of JBC would go a long way in promotion of bilateral trade and economic relations between the two countries and exploration of new avenues for joint ventures.

He said that the JBC would also encourage the UAE investment in Pakistan. He further informed that Pakistan-UAE Business Council of FPCCI would soon send a trade delegation to the UAE to attend an inaugural meeting of JBC with its counterpart in November. —APP/PPI