PAK VISIT: MoU Singed by Lahore and Punjab Chamber of Commerce and Industry

Lahore/Chandigarh, November 6, 2012: Lahore Chamber of Commerce and Industry today signed Memorandum of Understanding with the Punjab chapter of PHD Chamber of Commerce and Industry to strengthen trade and commerce ties between both countries.

The MoU was singed was Aftab Ahmed Vohra, Chairman Lahore Chamber of Commerce and Rajiv Bali, Chairman Punjab Committee PHD Chamber of Commerce in the presence of Punjab Deputy Chief Minister Sukhbir Singh Badal and Chief Minister of Punjab Province Shahbaz Sharif.

Describing it a historic day in the history of Indo-Pak relations, Punjab Deputy Chief Minister Sukhbir Singh Badal said that it was for the first time that both chambers of commerce have joined hand and they would work in tandem  with both countries to give a fillip to Indo-Pak trade. He said that this MoU was more important in context of impending full port status to Wagah Border that would multiply trade on Wagha route. He said that economics was like Tsunami that would break all artificial barriers between both countries and India and Pakistan would work together for economic prosperity.

Shahbaz Sharif Chief Minister of Eastern Punjab expressing satisfaction over initiative of both chambers of commerce felt that both countries would have to adopt pro-active approach to resolve teething problems coming in their way.

Earlier, Industrial giants participating in the discussion sought easy Visa clearance for trade and commerce, allowing trade in local currency, adopting cluster approach for industrialization, both countries allowing FDI in their each others industry besides enactment of a arbitration procedure to resolve business disputes.

Besides leading industrialist giants from both countries, Cabinet Members of Eastern and Western Punjab were witness to this historic occasion.