ISLAMABAD: Pakistan and Maldives have signed a memorandum of understanding to promote economic and trade cooperation, with an agreement to enhance trade, investment, business-to-business contacts and joint ventures between the two countries.
The MoU was signed at the Pakistan-Maldives Business Forum by Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh and the Maldives Minister of Economic Development.
Prime Minister Shehbaz Sharif, Maldives President Dr Mohamed Muizzu and senior officials from both countries attended the business forum.
Speaking on the occasion, FPCCI President Atif Ikram Sheikh described the agreement as an important milestone in bilateral relations between Pakistan and Maldives. He said the initiative had opened a new chapter of economic and commercial cooperation between the two countries.
Mr Sheikh said Pakistan and Maldives were committed to transforming their longstanding friendship into a strong trade partnership and direct linkages between the business communities.
Addressing the Pakistan-Maldives Business Forum, he said there were wide-ranging opportunities to increase bilateral trade and investment. He noted that tourism, fisheries, agriculture, food products and construction offered bright prospects for mutual cooperation, from which the business communities of both countries could benefit.
According to him, the private sectors of Pakistan and Maldives could support each other in various areas and help expand economic activity.
The FPCCI president said the federation was committed to strengthening direct contacts between business enterprises of the two countries. He added that exchanges of trade delegations and joint business ventures would be encouraged to increase mutual trade and investment.
Mr Sheikh expressed the resolve that the MoU signed between Pakistan and Maldives would not remain confined to a document, but would be translated into practical steps and measurable economic outcomes.
He said stronger cooperation between the private sectors of both countries would not only increase bilateral trade and investment but also create new employment opportunities.
