Pakistan, Malaysia to form Joint Business Council
15 September, 2009
KUALA LUMPUR: Federation of Pakistan Chamber of Commerce and Industry (FPCCI) and National Chamber of Commerce and Industry of Malaysia (NCCIM) are actively pursing the formation of a Joint Business Council (JBC) between Pakistan and Malaysia to bridge private businesses through the commerce chambers. The decision to activate the formation of JBC was made after a meeting held recently between High Commissioner for Pakistan in Malaysia, Lt. General (Retd) Tahir Mahmud Qazi and Executive Director of NCCIM Syed Hussain Al Habshee. The high commissioner in a statement issued today said that a Memorandum of Understanding (MOU) was signed between Malaysia and Pakistan on 6th of May, 2005 for the formation of JBC, but only recently implementation on MoU has been activated. Tahir Qazi said that the purpose of JBC is to foster friendship and understanding by promoting trade and investment, facilitating transfer of technology and strengthening cooperation in services and other sectors of economic activities between the business communities of Malaysia and Pakistan. The high commissioner said that as a first step, business councils would be setup by the FPCCI and NCCIM composed of private sector businessman and will work in close collaboration and cooperation in order to achieve free exchange of information regarding trade, economic cooperation and services between the two countries. The Commercial Counsellor for Pakistan Wajiullah Kundi said the Pakistan High Commission has made progress to expedite the appointment of chairmen for both the councils, and once the chairmen are appointed, the business councils will be activated in their respective countries to pave the way for the formation of the Joint Business Council. End.
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