The apex trade bodies of Pakistan and Poland have signed memorandum of understanding (MoU) for sharing economic development information to improve bilateral trade between the two countries.
The signing ceremony was held in Warsaw, Poland, on Monday in presence of President Pervez Musharraf, Commerce Minister Humayun Akhtar Khan, Polish Commerce Minister and others. While the MoU signed by Zubair F. Tufail, vice-president, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Anorgcz Arendorski, president, Polish Chamber of Commerce.
Both the apex trade bodies agreed to make joint efforts for promotion of bilateral trade to $200 million from $120 million. According to draft copy of the MoU made available to Business Recorder here on Tuesday, both the parties agreed to exchange market information regularly about the economic development of Pakistan and Poland with a view to opening up further possibilities for increased exchange of trade between them and for the expansion of economic co-operation between the enterprises and organisations concerned.
Both Pakistan and Poland chambers would organise a meeting of the representatives from both the countries alternately. The parties would assist visits of commercial and economic delegations between Pakistan and Poland and shall render maximum help for the realisation of business contacts.
Both the apex trade bodies, in the interest of their members would exchange market information and also made publications on the existing laws and regulations pertaining to foreign trade and investment.
It is agreed that both the parties would assist the enterprises/organisations in their respective countries to participate in international fora on joint basis, wherever considered necessary. The FPCCI and the Poland Chamber would assist each other in organising and participating in national exhibitions, international fairs, specialised exhibitions, economic and technical fairs for the promotion of economic co-operation.
It is agreed that both the parties would assist in resolving settlement of disputes between their members through conciliation and negotiation. In order to carry out the purposes and objectives of the agreement, a Pakistan-Poland Joint Economic Co-operation Committee would be set up by the FPCCI and the Polish Chamber consisting of representatives nominated by the two parties. The meeting of this joint committee would take place alternately in Pakistan and Poland.