STAFF REPORT KHI: Pakistan and Philippine have agreed to establish a joint business council that would contribute to bilateral trade and open new avenues for joint ventures in various business sectors.

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Philippine Chamber of Commerce and Industry have recently signed an MoU in this regard in Manila, says a press release released here.

“The formation of Pakistan-Philippine Joint Business Council is the accomplishment of a long desire of the business community of both the countries as it would open new vistas of business cooperation,” said FPCCI President Zakaria Usman on the occasion.

He also highlighted the investment potential and incentives in Pakistan for foreign companies and emphasised people-to-people contacts in order to boost bilateral trade.

“Bilateral trade potential between Philippines and Pakistan is huge. The current level of trade needs to be further raised for better economic cooperation between the two countries.”

He also said that Pakistan gives great importance to its relationship with Philippines, an important country of the Association of South East Asian Nations (ASEAN).

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