MoU inked to cement Pak-Uzbek trade relations

PESHAWAR: The Sarhad Chamber of Commerce and Industry (SCCI) and Uzbekistan Chamber of Commerce and Industry (UCCI) have signed a memorandum of understanding (MoU) to cement bilateral trade and economic relations.

The agreement was signed by SCCI President Sherbaz Bilour and UCCI President Ulug Beg as a high-level businessmen delegation from KP visited Uzbekistan, according to a press release issued here on Friday.

In connection with Prime Minister Imran Khan’s ongoing visit to Uzbekistan, the delegation of businessmen from KP was led by SCCI President Sherbaz Bilour.

Senior vice-president Engineer Manzoor Elahi and vice-president Junaid Altaf, Ghazanfar Bilour, Hasnain Khurshid, Faiz Muhammad Faizi, Adeel Rauf, Zahidullah Shinwari, Malik Imran Ishaq, Sohail Javed, Muhammad Asif and Shahzad Anjum were in the delegation.

According to the Memorandum of Understanding (MoU) that was signed between SCCI and UCCI, both chambers would make concerted efforts to enhance mutual trade volume between the two countries.

Both will bring the business community nearer to each other and fully tap the investment potentials and take benefits from each other’s experiences as well.

The SCCI chief stressed the need for cementing trade between Pakistan and Central Asian Republics, which would help stabilize the economy of both countries as well as create new investment opportunities to overcome unemployment issues in the country.

He said huge opportunities were available to enhance cooperation between Pakistan and Uzbekistan.

Sherbaz Bilour hoped the new era of cooperation between Pakistan and Uzbekistan would open after signing several agreements in different potential sectors of the two countries.

He invited the Uzbek investors to make investments in the potential sectors in Khyber Pakhtunkhwa.

It is pertinent to mention here that during the visit, the KP businessmen delegation led by SCCI President Sherbaz Bilour had ministers, high officials and heads belonging to trade and commerce-related institutions.

Both sides agreed to cement economic and trade ties, especially, making the investment in the potential sectors in KP, taking benefits from each other’s experiences, strengthening relationships between business communities, jointly organizing trade exhibitions and business-to-business sessions.