The Islamabad Chamber of Commerce and Industry (ICCI) and the Pakistan Business Association Korea (PBA Korea) on Tuesday signed a Memorandum of Understanding (MoU) to strengthen institutional cooperation, promote bilateral trade and investment.
ICCI, PBA Korea sign MoU to expand trade, investment and business Llnkages
ISLAMABAD, Sep 01 (APP): The Islamabad Chamber of Commerce and Industry (ICCI) and the Pakistan Business Association Korea (PBA Korea) on Tuesday signed a Memorandum of Understanding (MoU) to strengthen institutional cooperation, promote bilateral trade and investment.
The MoU is also aiming at to enhance business-to-business linkages and facilitate greater interaction between the business communities of Pakistan and South Korea, said a press release.
The MoU was signed during the visit of a high-level PBA Korea delegation to ICCI, led by its Chairman Mudassar Ali Cheema (Tamgha-e-Imtiaz).
Mudassar Ali Cheema appreciated ICCI for providing a platform for strengthening structured engagement between Pakistani and Korean businesses.
He highlighted the Association’s milestones in organizing the Pakistani business community in Korea, addressing community and business-related issues and promoting stronger commercial relations between Pakistan and South Korea.
ICCI President Sardar Tahir Mehmood welcomed the delegation and said the signing of the MoU marked an important step towards translating the strong Pakistan-Korea relationship into tangible economic opportunities.
He said overseas Pakistanis, particularly the business community in Korea, could serve as effective economic ambassadors by connecting Pakistan with international markets, investment, technology and global business networks.
He said Pakistan’s young workforce, large market and investment potential, combined with Korea’s advanced technology, capital, industrial expertise and access to international markets, could create substantial opportunities for both countries.
He emphasized that the newly signed MoU would provide a framework for promoting B2B meetings, joint business delegations, investment opportunities, market information exchange and direct interaction between entrepreneurs.
President Pakistan Business Association Korea Rahim Shah said the Council would work closely with ICCI to translate the objectives of the MoU into practical initiatives and mutually beneficial business opportunities.
He expressed the hope that enhanced cooperation between the two organizations would encourage Pakistani and Korean companies to explore new partnerships, joint ventures, investment projects and opportunities for technology and knowledge transfer.
Those present on the occasion also included Vice Chairman PBA Sabir Khan Khattak, ICCI executive members Zulqurnain Abbasi, Waseem Chaudhry, former senior vice President Khalid Chaudhry and other.
