KARACHI: In a move aimed at bolstering economic relations, the Karachi Chamber of Commerce and Industry (KCCI) and the Pakistan Business Council (PBC) Dubai signed a Memorandum of Understanding (MoU) on Monday to enhance trade and investment cooperation between Pakistan and the United Arab Emirates.

The MoU, signed by KCCI President Muhammad Jawed Bilwani and PBC Dubai Chairman Shabbir Merchant, seeks to establish strategic linkages between the business communities of Karachi and Dubai. The signing ceremony, held at the KCCI premises, was attended by several key figures from both organizations.

President KCCI Jawed Bilwani underscored the partnership as a strategic effort to deepen economic ties through initiatives like trade delegation exchanges and joint participation in international events. He highlighted the agreement's focus on sharing trade policy information and facilitating business visa processes.

Chairman PBC Dubai Shabbir Merchant emphasized the MoU's role as a bridge between the business communities, promoting sustainable economic growth and easing business operations. He expressed confidence in the partnership's potential to give Pakistani businesses better access to the UAE market.

The MoU also includes a framework for resolving business disputes through mediation and arbitration. The agreement encourages government support from both countries to assist in policy advocacy and improve business conditions.

Executive Advisor PBC Dubai Mustafa Hemani praised KCCI's leadership in achieving this milestone, affirming the collaboration's potential to foster long-term economic cooperation.

The agreement includes provisions for monthly virtual meetings to ensure effective implementation and coordination. This strategic partnership aims to unlock new trade opportunities and attract investments, benefiting businesses across both regions.