Karachi: Irfan Iqbal Sheikh President FPCCI informed in landmark achievement, FPCCI and Algerian Chamber of Commerce and Industry (CACI) established Joint Business Council (JBC) aimed at broad-based and strategic objectives.

Aim is to ensure direct exchange of information among business communities, market situation, production and business opportunities as well as technological and industrial cooperation, facilitating contacts among businessmen-joint ventures, transfer of technology, licensing and know-how, utilising every possible initiative aimed at strengthening of bilateral economic relations and study and submit to their respective governments proposals and policy measures designed to develop economic cooperation between two countries.

It is aimed to take definitive strides towards taking bilateral trade volume to $ 1 billion in short-term through creating interdependencies and complementary economies as conditions of both countries are similar vis-a-vis socio-economic indicators.

Shabbir Mansha VP FPCCI advised Pakistani business community should visit Algeria to explore avenues of joint ventures and look into sourcing country’s energy deficit from Algeria on favourable terms on back of their huge hydrocarbon reserves.

Addressing businessmen at FPCCI Head Office Brahim Romani Ambassador of Algeria highlighted Algerian government’s facilitative measures for trade and economic cooperation.

Muhammad Tariq Ambassador of Pakistan in Algeria said that Pakistan is striving to diversify and expand its exports and looking for new markets and new product categories.

Tayeb Chaibab President CACI expressed optimism that FPCCI and Algerian Chamber will be able to enhance bilateral trade delegations, trade exhibitions, people-to-people and chamber-to-chamber linkages through newly formed JBC.

Published in The Daily National Courier, December, 20 2022

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