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PBBF and PBIT JOIN HANDS TO PROMOTE TRADE and INVESTMENTS.

Pakistan Belgium Business Forum (PBBF) and Punjab Board of Investment and Trade (PBIT) signed a Memorandum of Understanding (MOU) last week at a local hotel in Karachi to increase trade and investment between Pakistan and Belgium. This is a unique initiative with PBBF being the first business forum of its kind to enter into such a MOU with PBIT.

Dr. Sajid Yoosufani, CEO PBIT, and Mr. Sameer Hamid Dodhy, President PBBF signed the MOU on behalf of their respective organizations.

Mr. Dodhy stated that it was a great honor for him to sign the MOU between PBBF and PBIT. He declared that this MOU would commit both organizations to work closely together towards the common goal of increasing trade and investment between Pakistan and Belgium. He stated that through this MOU both organizations will share ideas and leverage each other's respective strengths in order to more effectively achieve their desired goals.

He observed that geographically and culturally, Belgium is ideally situated at the crossroads of Europe. Belgium, though a small country with a population of 10 million people, is an economic powerhouse with a GDP of approximately $467 billion. Meanwhile, Punjab is a resource rich province with human capital of 93 million and has a potential to become a world leader in food production and processing due to availability of arable land and an extensive irrigation system.

Dr. Yoosufani said the MOU is yet another milestone for enhancement of investment and trade ties of Pakistan with Belgium. He stated that through the joint platform of PBBF and PBIT, Punjab will hold activities such as catalogue exhibitions and participate in delegations to increase the volume of two-way trade. He stated that Punjab is a perfect place to expand, relocate or start a business as it contributes almost 60 per cent to Pakistan's economy and has a skilled and efficient labor force and developed infrastructure.

He also declared that in a very short period of just 2.5 years, PBIT has increased the local and foreign investment and trade in Punjab and worked hard to improve the perception about Pakistan in foreign countries. He hoped that the new partnership would go a long way in cementing economic relations between both countries as well as being mutually beneficial to PBIT and PBBF. The event was well attended by PBBF members and the MOU signing ceremony was followed by lunch.

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Publication:Pakistan & Gulf Economist
Geographic Code:9PAKI
Date:Apr 22, 2012
Words:396
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