FPCCI, SCC to boost trade, investment ties

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Scottish Chambers of Commerce (SCC) have agreed to boost their cooperation to foster trade, investment and economic ties, a statement said on Wednesday.

FPCCI President Atif Ikram Sheikh said the Pakistani diaspora in Scotland was very strong and Pakistan had a great opportunity to enhance its commercial and business interests with the European nation.

The SCC ambassador for Pakistan Jeanette Forbes had visited the FPCCI office in Karachi and presented her plan to the leading business figures on how to promote trade between the two sides.

FPCCI Senior Vice President Saquib Fayyaz Magoon said FPCCI was keen to attract Scottish investment and collaboration in sectors such as infrastructure, renewable energy, water management, financial services, food and beverages, healthcare and retail.

He said Pakistan could offer Scotland the benefit of reducing its cost of doing business through its skilled, abundant and cost-effective workforce, business process outsourcing and sourcing of competitive products and services.

Former FPCCI Senior Vice President Mirza Ikhtiar Baig said FPCCI was committed to forging productive and mutually beneficial business relationships with SCC and believed in the power of strong alliances to support and promote trade activities for the common good of both nations.

Forbes said SCC, which represents over 12,000 companies and more than half of the private-sector workforce in Scotland, had signed a memorandum of understanding with FPCCI on Sept. 26, 2022, to strengthen trade cooperation. She said there was still much work to be done in areas such as export promotion, foreign direct investment, joint ventures and business-to-business linkages.