MoUs signed by LCCI President and Shouban Akhtar, Chairman of DIOA and PIBTIC

By Farzana Chaudhry, Lahore, Pakistan

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has signed separate Memoranda of Understanding (MoUs) with the Daroghawala Industry Owners Association (DIOA) and the Pakistan International Business, Trade, Industry & Commerce (PIBTIC) to promote industrial growth, trade, investment and business cooperation.

The MoUs were signed by LCCI President Faheem-ur-Rehman Saigol and Shouban Akhtar, Chairman of DIOA and PIBTIC.

Under the agreement with DIOA, the two organizations will cooperate in trade and investment promotion, business networking, manufacturing development, capacity building, research, policy advocacy, innovation, technology adoption and sustainability.

They will also collaborate in organizing industrial conferences, business forums, business-to-business (B2B) meetings, export awareness sessions and other manufacturing-related activities aimed at supporting the business community.

The LCCI and PIBTIC also signed an MoU to promote trade, investment, industrial cooperation, exports, technology transfer and business partnerships.

The agreement provides for cooperation in B2B meetings, business networking, market linkages, investor connections, trade exhibitions, conferences, seminars, business forums, workshops and trade delegations.

The LCCI-PIBTIC agreement also envisages cooperation to promote Pakistan’s engineering, manufacturing, automotive, information technology and pharmaceutical sectors, along with other industrial fields.

The two sides will exchange non-confidential trade, investment and market information, while PIBTIC will facilitate technical training, vocational skills development, industrial exposure and industry-oriented training programmes.

Both MoUs will remain effective for one year from the date of signing. Either party may terminate the respective agreement by providing one month’s advance written notice.

The agreements do not create any financial or legal obligations for either party and may be amended through mutual written consent.