PBIT, Belarus firm sign agreement

LAHORE: The Punjab Board of Investment and Trade (PBIT) signed a memorandum of understanding (MoU) with Bellegprom, Belarus in Islamabad, a statement said on Tuesday.
The MoU is designed to bolster investment and trade promotion between the two countries, it said.
PBIT would endeavour to establish required contacts and business partners for Bellegprom in Punjab-Pakistan and vice versa. For the purpose, the parties may jointly utilise their resources with proper plan specifically in the sectors such as light industry, textile, leather and research and development, it said.
Both PBIT and Bellegprom jointly or individually will organise conferences, seminars, visits, and / or participate in such events organised by other party, it said.
Both the organisations will particularly exchange investment-related business delegations’ visits with mutual consent.
Bellegprom, acting on the basis of its charter, is the union of state and other juridical entities, subordinates to the Council of Ministers of the Republic of Belarus, represents the interests of more than 80 organisations of different forms of ownership.
The MoU also states that both the organisations will work to the best of their capabilities to generate investment leads and share information on the opportunities, specifically in various sectors.
In this regard, representatives of the parties will interact frequently electronically or otherwise, it said.
The parties may provide facilitation services to each other and the capable investors by providing specific product information, identification of joint venture partners, facilitating procedural matters with the respective authorities remaining within respective legal mandate.
The parties may also provide assistance in introduction of modern forms and methods of training of specialists for the light industry, it added.