Signing of Memorandum of Understanding (MoU) for Cooperation between FPCCI and CCIA-BML

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Chamber of Commerce, Industry and Agriculture of Beirut and Mount Lebanon (CCIA-BML) achieved a significant milestone today with the signing of a Memorandum of Understanding (MoU) for cooperation. During the virtual ceremony, held today, the MoU was signed by Mr. MohamadChoucair, Chairman of CCIA-BML, and Mr. Irfan Iqbal Sheikh, President of FPCCI, from their respective sides. The MoU signing ceremony was also attended by H.E. Mr. Salman Athar, Ambassador of Pakistan to Lebanon.

During his opening remarks Mr. Irfan Iqbal Sheikh, President of FPCCI, gave a brief overview of the the current status of trade and economic cooperation between Pakistan and Lebanon and emphasized to explore the tremendous potential which is lying untapped on both sides. Moreover, he noted that the signing of MoU will help forging strong and sustainable ties between the two countries.  Healso highlighted the considerable benefits that would arise from effective collaboration in trade, investment, technology transfer, and related economic activities, as a result of this MoU. Moreover, he noted that a delegation of Pakistani businessmen from FPCCI will visit Lebanon in near future.

Mr. MohamadChoucair, Chairman of CCIA-BML, conveyed his satisfaction with the signing of the MoU and highlighted its transformative potential. Moreover, he noted that a Lebanese business delegation had already attended the International Textile Exhibition in Pakistan and his Chamber will send another delegation to attend the upcoming Food and Agriculture Exhibition in Karachi.He emphasized that this MoU would serve as a catalyst for closer cooperation and the exchange of expertise between the two Chambers. He also expressed his desire to take a business delegation to Pakistan for an effective B2B interaction.He also underscored the significance of regular meetings to review progress and plan for the future.

H.E. Ambassador Salman Athar, during his remarks, congratulated both sides for signing of the MoU. He said that Pakistan and Lebanon are brotherly countries which share common values and support each other on various regional and global issues. He urged both sides to announce exchange of business delegations in near future as well as formation of Joint Business Councilat the earliestas laid down in the MoUas there is a lot of potential for the bilateral trade to grow.

Pakistan and Lebanon enjoy friendly relations and signing of this MoU will be a significant step towards achieving economic collaboration between Chambers on both sides. It will also result in conducting programs and studies, facilitating exchange visits, B2B interactions, exchanging information on laws, providing cooperation for trade fairs, and establishing a Joint Business Council to strengthen economic cooperation.

Beirut

19 July 2023