Traders in KP agree to launch JVs to strengthen S Africa ties

PESHAWAR: Traders in Khyber Pakhtunkhwa and South African based-Pakistani businessmen agreed to launch joint ventures to boost up the Pak-South Africa trade and economic relations.

The participants highlighted KP potentials and major sectors for foreign investment. Business community, in depth, exchanged about prospects of Pak-South Africa investment in Khyber Pakhtunkhwa. Traders agreed both sides will take joint steps to provide an enabling environment for investors in KP and fully exploit potentials and experiences of each other to improve the bilateral trade between the two countries.

This was the crux of a meeting held between Sarhad Chamber of Commerce and Industry president Fazal Moqeem Khan and Pakistan South Africa Trade Federation (PSATF) Chairman Muhammad Rafiq Memon, who is currently leading a delegation of the PSATF to KP.

SCCI senior vice president Abdul Jalil Jan, vice president Shehryar Khan, former senior vice president of the chamber Shahid Hussain, Secretary General of the chamber Muqtasid Ahsan were present during the meeting.

The PSATF delegation consisted of general secretary of the federation Ikramullah Jan, President for the Middle East, KP, and Islamabad region Mumtaz Khan Yousafzai, Members Advisory Shahid Khattak, Naseer Khattak and Coordinator Hafiz Khalid Zaheer.

Rafiq Memon briefed the meeting about the purpose of the PSATF and expressed willingness to initiate joint ventures and work with SCCI to attract investment in Tourism, Hoteling and other important sectors in KP.

PSATF chairman said South African investors are ready to make investment in tourism, hoteling and other sectors in the KP. He, however, sought assistance from Sarhad Chamber of Commerce and Industry to provide a friendly and conducive environment for investors in the province.

Responding to the request/proposals of the PSATF, Fazal Moqeem said vast opportunities are available to make investment in various sectors in Khyber Pakhtunkhwa. He said KP’s youth is fully capable and talented which successfully excelled in every field in the country and internationally. He welcomed showing willingness of African investors about making investment in KP’ potentials/sectors and assured SCCI will fully cooperate with PSATF to promote Pak-SA investment in tourism, hoteling and other important sectors in KP.

Earlier, heads of SCCI and PSATF decided to launch joint initiatives to attract foreign investment in various potentials and sectors of Khyber Pakhtunkhwa.

Copyright Business Recorder, 2024