ISLAMABAD   -  The Islamabad Chamber of Commerce & Industry (ICCI) and Diplomat Business Club (DBC) have signed a memorandum of understanding to promote cooperation for enhancing Pakistan’s business interests in local and foreign markets.

Ahmed Hassan Moughal, president ICCI, and Javed Malik, Ambassador DBC, signed the MoU in a ceremony held at Chamber House. The Diplomat Business Club, incorporated in the United Kingdom, Dubai and UAE, is a prestigious global network that connects business leaders, traders, investors, diplomats and other eminent personalities from around the world through a series of events and activities organized in Dubai, Abu Dhabi UAE, Bahrain, and other GCC countries as well as in London, and other European countries.

By signing the MoU, DBC and ICCI have agreed to work together for promoting Pakistan’s business and economic interests at national and international level. DBC would advise, assist and support ICCI in promoting, highlighting and projecting the business, trade and investment opportunities in Pakistan as well as at international level through the events, activities and initiatives being organised by DBC in Dubai, GCC and other countries around the world. DBC will utilize its extensive network of contacts, influence and positive goodwill across Dubai, UAE, GCC countries to facilitate ICCI in connecting, reaching out and engaging with the business community gulf region. DBC will also create new opportunities for ICCI to further expand its network in gulf countries.

DBC will cooperate with ICCI in organizing business conferences, events, and single country exhibitions in Dubai, UAE, GCC region & Europe. DBC and ICCI will work together to encourage business delegations from Pakistan, UAE, GCC countries and Europe to visit each other’s countries for promotion of trade and exports.

Speaking at the occasion, Ahmed Hassan Moughal, president Islamabad Chamber of Commerce & Industry, said that the economies of GCC countries were driven by oil exports while these countries were mostly importing manufacturing and agricultural products from outside world. He said this situation offered Pakistan great potential to enhance exports to gulf region. He hoped that the MoU with DBC would be helpful in creating new opportunities for promoting Pakistan’s trade and exports with GCC countries and around the world.

Javed Malik, Ambassador Diplomat Business Club, said that DBC has vast network at global level and it will extend all possible assistance to ICCI members in penetrating the huge market of gulf region and other countries.

Rafat Farid, senior vice president, Iftikhar Anwar Sethi, vice president ICCI, Zubair Ahmed Malik, Abdul Rauf Alam, Mian Shaukat Masud, Khalid Iqbal Malik, M Ejaz Abbasi, Sheikh Amir Waheed, Muzzamil Sabri and others were also present at the occasion.