MoU signed to promote Pak-China bilateral trade

ISLAMABAD: China Xinjiang Kashgar Chamber of Commerce (KCC) and Islamabad Chamber of Commerce and Industry (ICCI) have signed a Memorandum of Understanding to work jointly for promoting bilateral trade and economic relations between Pakistan and China.

The signing ceremony was held at ICCI. Abdujilil Halil President, Kashgar Chamber of Commerce and Atif Ikram Sheikh, President, Islamabad Chamber of Commerce and Industry signed the MoU.

Both Chambers agreed to enhance mutual cooperation for exploring business and investment opportunities for their respective members in the China-Pakistan Economic Corridor (CPEC) that extends from Kashgar to Gwadar, said a press statement issued here.

KCC will facilitate ICCI members in grant of visas to frequently visit Kashgar for exploring business opportunities in Guangzhou New City’s Special Economic Zone and ICCI will reciprocate same cooperation to KCC members for exploring investment possibilities in Pakistan.

Both parties agreed to establish a joint working group comprising 5-6 members from each side to work on mutually agreed agenda for promoting economic interests of both countries.

They shall exchange information about trade opportunities and facilitate participation of each other’s members in trade fairs and exhibitions in their respective countries for promoting bilateral trade, investment and joint ventures.

Both Chamber shall cooperate for exchange of business delegations to promote business linkages and explore new avenues of mutual cooperation.

Speaking at the occasion, Abdujilil Halil, President, Kashgar Chamber of Commerce said that Chinese investors were taking great interest in Pakistan for investment and joint ventures and hoped that MoU between KCC and ICCI would help in exploring business partnerships between the private sectors of both countries.

Atif Ikram Sheikh, President, Islamabad Chamber of Commerce and Industry said that CPEC would start a new era of business and investment opportunities between Pakistan and China and it was high time that more and more Chinese investors should come to Pakistan to explore investment and joint ventures in energy and infrastructure development projects envisaged in China-Pakistan Economic Corridor for early materialization of this historic project.

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