Lahore Chamber of Commerce and Industry and Jakarta Chamber of Commerce and Industry sign deal for promotion of business

Lahore, August 27, 2014 (PPI-OT): The Lahore Chamber of Commerce and Industry and Jakarta Chamber of Commerce and Industry on Wednesday signed a Memorandum of Understanding to promotion of business activities between Pakistan and Indonesia.

LCCI President Engineer Sohail Lashari inked the MOU on behalf of the Lahore Chamber of Commerce and Industry while Jakarta Chamber of Commerce and Industry was represented by its President IR. Eddy Kuntadi. Indonesian Ambassador to Pakistan Burhan Muhammad and Pakistan Ambassador to Indonesia Attiya Mehmood were also present on the occasion.

According to the MoU, both the chambers would work together for improving trade, commerce and economic relations between the two countries.

Both the sides would adopt a new strategy for exchange of information relating to their respective markets. The accord would help facilitate the exchange of trade teams between the two chambers. Both the chambers would now work jointly to identify snags affecting trade between them.

The LCCI and the Jakarta Chamber would also conduct a joint research for exploring possibilities of trade and investment.

Speaking on the occasion, the LCCI President Engineer Sohail Lashari said that the Memorandum of Understanding between Lahore Chamber of Commerce and Industry and is a significant step in bring the both chambers together.

He said that bilateral trade between Pakistan and Indonesia is needed to be enhanced as both countries have potential and resources to make the economic ties strengthen.

He said that Pakistan’s share in two-way trade is much lesser than that of Indonesia but it is a good omen that the two countries are on the right track.

Meanwhile, the LCCI Acing President Mian Tariq Misbah has hoped that Memorandum of Understanding between the Lahore Chamber of Commerce and Industry and Jakarta Chamber of Commerce and Industry would go a long way and help strengthen the economic ties between the two countries.

Tariq Misbah said that there is also a lot of scope for Indonesia to make investment in Pakistan. Indonesia has a fairly advanced petro-chemical, rubber, plywood, telecommunication and tourism industry. He said that Indonesia can make direct investment in these industries and can also enter into joint ventures with Pakistani business community.

For more information, contact:
Shahid Khalil
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +9242 111 222 499
Fax: +92 42 636 8854