KARACHI: Federation of Pakistan Chamber of Commerce and Industry (FPCCI) will send a high powered trade delegation to United Kingdom to attend Commonwealth Business Forum-2018 ; formation of the delegation in process.
The Commonwealth Business Forum -2018 which is being organized by Commonwealth Enterprises and Investment Council (CWEIC) from 16 to 18 April, 2018 on the sidelines of Commonwealth Heads of Government meeting, said FPCCI statement here on Friday.
Led by President FPCCI Ghazanfar Bilour, the delegation would have opportunity to meet and interact with the Heads of Commonwealth Community and expand their business relations with their counterparts.
At present, the trade between Pakistan and the Commonwealth had crossed dollars ten billion with exports volume of dollars 4.3 billion and import volume was more than $ 6 billion. The Commonwealth Business Forum - integral part of the Commonwealth Heads of Government meeting – would gather business leaders, industry experts and senior government representatives to discuss the issues and challenges confronting with their countries in 2018 and beyond. It was expected that this event would be attended by thirty Heads of Government of the member states and 800 businessmen from all members nations.
FPCCI was the Institutional Strategic Partner of the Commonwealth Enterprises and Investment Council (CWEIC) by virtue of an agreement signed in March 2017. CWEIC was a representative body of private sector of commonwealth community and worked for the promotion of trade and investment activities among the member countries.
The agreement between FPCCI and CWEIC stipulated for expansion of Pakistan trade and economic relations with the commonwealth countries and active participation in the events/activities of CWEIC. As per the agreement, the CWEIC will support FPCCI for the strategic and commercial objectives through high-level introductions, referral of opportunities, public relations etc., and will invite to all trade and investment promotion related activities.
Commonwealth was a diverse community of 52 countries which represent 20 percent of world area and spread over Asia, Europe, America, Africa, Caribbean and Pacific region. Commonwealth accounted 30 percent of world population (2.4 billion) and 14 percent of world gross domestic product (GDP) with per capita average income dollars 4,500. All member countries of the Commonwealth are members of WTO and enjoyed the advantage of having shared legal systems, languages and values, making it easier for them to communicate trade and cooperate with one another.
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