Pakistan and Malaysia to Form Joint Business Council

Federation of Pakistan Chamber of Commerce and Industry(FPCCI) and National Chamber of  Commerce and Industry of Malaysia(NCCIM) are actively pursing formation of Joint Business Council(JBC) of Pakistan and Malaysia to bridge private businesses through the Chambers of Commerce, says a Press Release received here today.The decision to activate the formation of JBC was made after a meeting held recently between High Commissioner for Pakistan in Malaysia, Lt. General (Retd) Tahir Mahmud Qazi and Executive Director of NCCIM Syed Hussain Al Habshee.The High Commissioner in a statement issued today said that a Memorandum of Understanding(MOU) was signed between the Malaysia and Pakistan on 6th of May, 2005 for formation of JBC, but only recently implementation on MoU has been activated.Mr. Tahir Qazi said that the purpose of JBC is to foster friendship and understanding promote trade and  investment, facilitate transfer of technology and strengthen cooperation in services  and other sectors of economic activities between the business communities of Malaysia and Pakistan.The High Commissioner said that as a first step Business Councils are being setup by the FPCCI and NCCIM respectively composed of private sector businessman, and will work in closest collaboration and cooperation in order to achieve free exchange of information regarding trade, economic cooperation and services between the two countries.The Commercial Counselor for Pakistan Mr. Wajiullah Kundi said that Pakistan High Commission is in advance stage of facilitating negotiation between FPCCI and NCCIM, and in this regard progress has been made to expedite appointment of  Chairmen of both the councils, and once the Chairmen are appointed, the Business Councils will be activated in the respective countries to pave the way for formation of Joint Business Council.