PESHAWAR
A memorandum of understanding (MoU) was signed between Sarhad Chamber of Commerce and Industry and German institute BVMW to strengthen mutual cooperation and economic and trade relations.
A press release issued here on Monday stated that SCCI president Fazal Moqeem Khan is currently on a Germany tour wherein he has participated in an international conference on Small and Medium Businesses organized by BVMW.
At the sideline of the conference, the MoU was signed by SCCI president Fazal Moqeem Khan and BVMW member, executive board, Head of Government Affairs and Foreign Trade Mr Adreas Jahn, the release said.
Zahidullah Shinwari, former president of the chamber, officials and representatives of the BVMW were present on the occasion.
According to agreement, both sides would collaborate to enhance investment and promote trade and bilateral cooperation whereas they would also devise a joint framework to improve trade volume, besides promote institutional collaboration/cooperation, conduct of capacity building training for members in the field of investment.
Similarly, the both institutions would exchange information on investment policy, rules, procedures, incentives, opportunities and other relevant knowledge, exchange of business delegations, encourage research activities, identification of possible/available investment facilities, joint projects, exchange of technical experts, under the agreement.
Besides, the agreement would enable us to share regular information on economic, trade and investment.
Fazal Moqeem, expressing his views on the occasion termed the agreement as a milestone to strengthen Pak-German mutual cooperation, trade and economic relations.
There is huge potential to further cement economic collaboration between Pakistan and Germany, the SCCI chief remarked.
Moqeem said vast opportunities existed to invest in the potential sector in K-P.
The SCCI president invited German Companies to invest in oil, gas, hydro power generation, mine, mineral, gems stone and other important sectors to improve the mutual economic and trade ties.
Zahidullah Shinwari also spoke on the occasion and highlighted KP potential sectors for foreign investment.
He said KP is a lucrative destination for foreign investors and stressed that German companies should take full advantage of KP potentials through joint ventures.
BVMW officials and representatives also hailed the agreement with SCCI and enlightened the meeting about possible sectors and areas for launch of joint ventures and mutual trade and economic collaboration.
