KARACHI:Karachi Chamber of Commerce and Industry (KCCI) on Wednesday signed a Memorandum of Cooperation with UK-based Commonwealth Entrepreneurs Club (CEC) for building partnerships of Pakistani SMEs with the SMEs of commonwealth countries for business collaborations and technology transfer to Pakistan.
The memorandum was inked by Chairman & Co-Founder of CEC Mobin Rafiq and President KCCI Muhammad Idrees during a meeting held at KCCI, said a statement on Wednesday.
General Secretary BMG AQ Khalil, Senior Vice President Abdul Rehman Naqi, Vice President Qazi Zahid Hussain, Chairman Diplomatic Missions and Embassies Liaison Subcommittee Zia ul Arfeen, Chairman Fairs, Exhibitions and Trade Delegations Subcommittee Azeem Ahmed Alvi, Former President KCCI Majyd Aziz and KCCI Managing Committee Members were also present.
Both sides have agreed to develop proposals for the enhanced role of SMEs and give suggestions to the government for policy reforms. They will also work for increasing Pakistan’s exports, and attractive FDI to the country.
Speaking on the occasion, Mobin Rafiq, while highlighting the activities and achievements of CEC, stated that he was also planning to initiate global sustainable projects aimed at inclusiveness and empowering marginalized communities with skills and enabling them with the power of SMEs to create jobs and end poverty.
He wanted to realize these goals by connecting more than 5,000 highly successful entrepreneurs from across 54 commonwealth nations to open up new markets, facilitate trade and enhance regional connectivity.
He hoped that the cooperation of KCCI with CEC would yield beneficial outcomes for SMEs in Pakistan.
President KCCI Muhammad Idrees, in his remarks, said today’s Memorandum of Cooperation between KCCI and CEC was a major milestone which would certainly promote business activities and trade cooperation amongst entrepreneurs from commonwealth countries.
He stressed that the members of CEC must explore investment opportunities available in Karachi and look into the possibility of undertaking joint ventures in this city particularly in the IT, aquamarine, textiles, construction and other sectors.
“Pakistan’s investment policy is liberal wherein there was no restriction on repatriation of profits and capital”, he added.
Muhammad Idrees, while appreciating the efforts being made by Mobin Rafiq, hoped that the cooperation between the KCCI and CEC would contribute to strengthening the SME sector in Pakistan.