LAHORE: Lahore Chamber of Commerce and Industry (LCCI) and Mogilev Branch of the Belarusian Chamber of Commerce and Industry (BELCCI) have inked a Memorandum of Understanding (MOU) on Tuesday in the presence of Prime Minister Nawaz Sharif and his Belarusian counterpart Andrey Kobyakov.
The LCCI President Sheikh Muhammad Arshad inked the MOU on behalf of the LCCI while Mogilev Branch of the Belarusian Chamber of Commerce and Industry was represented by its Chairman M. Miatlikov.
LCCI and BELCCI have agreed to develop cooperation for more effective assistance to business undertaking of their regions in all kinds of foreign economic activity development. Both organizations will deal with the organization of business contacts, seminars, business meetings, presentations, exhibitions, fairs holdings and other arrangements to make potential partners be familiarized with economy and export possibilities available in the two countries.
Both organizations will supply each other information of legislative and normative acts, regulating the foreign economic activities, of enterprises and companies – their potential partners, of held exhibitions and fairs and of other questions of mutual interest. LCCI and BELCCI will assist each other in small and medium size business development, search for partners for trade and joint ventures, as well as render other services of interest for business entities of the both parties.
Speaking on the occasion, the LCCI President Sheikh Muhammad Arshad said that Belarus is not a traditional market and have a lot of opportunities for Pakistani merchandise. He said that MOU between the LCCI and Mogilev Branch of the Belarusian Chamber of Commerce & Industry (BELCCI) would go a long way and help Pakistani goods to find their way in the Belarusian market.
Sheikh Muhammad Arshad said that ample opportunities exist in a number of sectors including Construction and Energy sectors of Pakistan and now it is duty of the policy makers to make the visit of Belarusian leader meaningful.
He called for exchange of business delegations so that both the sides could have first hand knowledge of the available opportunities in Pakistan and Belarus. He said that both the countries have marvelous untapped business potential that needs to be realized by maximizing the involvement of private sectors of the two countries. He hoped that the economic relation between the two countries would strengthen further to create a win-win situation for Pakistan and Belarus.
Sheikh Muhammad Arshad said the time has come that the businessmen of both the countries should enhance their bilateral relations which will be beneficial for the people of both the countries.He commended the efforts made by the Prime Minister Nawaz Sharif and for accelerating two way interactions among the businessmen of Pakistan and Belarus.
The LCCI President said that Belarus is well positioned to take advantage of Pakistan’s economic potential and its geo-strategic location. “Let us make trade and investment, the central pillar of this cooperation.”
He emphasized that some kind of understanding should be developed between the private sector representatives of both the countries that will certainly provide basis to convert that into business deals.
