By Commerce Reporter
LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has signed Memoranda of Understanding (MoUs) with the Daroghawala Industry Owners Association (DIOA) and Pakistan International Business, Trade, Industry & Commerce (PIBTIC) to promote industrial growth, business competitiveness, trade and investment.
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The agreements are aimed at strengthening cooperation between the business community and LCCI while creating new opportunities for industrial development, SME growth, technology adoption, innovation and capacity building.
The MoU between LCCI and DIOA focuses on promoting industrial growth and competitiveness and facilitating greater cooperation for the benefit of businesses and industrialists. The agreement also covers areas including SME development, capacity building, innovation and the adoption of modern technologies.
The second MoU, signed between LCCI and PIBTIC, focuses on expanding trade and investment opportunities, promoting exports, strengthening industrial cooperation and facilitating technology transfer and business partnerships.
Under the agreement, the two organisations will work towards developing stronger market linkages and creating opportunities for businesses to establish commercial partnerships. The cooperation will include business-to-business (B2B) meetings, networking opportunities, trade events and business delegations.
The MoUs were signed by LCCI President Faheem-ur-Rehman Saigol and DIOA/PIBTIC Chairman and LCCI Executive Committee Member Rana Shouban Akhtar.
The agreements are expected to provide a framework for closer interaction between LCCI and the participating business organisations and help businesses explore new markets, investment opportunities and commercial partnerships.
Speaking on the occasion, the representatives emphasised the importance of coordinated efforts between trade bodies and business associations to address challenges faced by the private sector and create an environment conducive to investment and industrial expansion.
The cooperation also seeks to encourage businesses to adopt new technologies and improve their competitiveness in domestic and international markets. Greater interaction through B2B meetings, trade events and business delegations can provide businesses with opportunities to identify potential partners and expand their commercial networks.
The MoUs also underline the importance of supporting small and medium-sized enterprises, which form a significant part of the industrial and trading community. Capacity-building initiatives and technology adoption can help businesses improve productivity and respond to changing market requirements.
LCCI Executive Committee Member Firdos Nisar was also present on the occasion.
The agreements represent an effort to establish a structured mechanism for cooperation among LCCI, industrial associations and business organisations, with a focus on trade promotion, investment, exports, technology and broader economic activity.