Peshawar: The Sarhad Chamber of Commerce and Industry (SCCI) and Uzbekistan Chamber of Commerce and Industry (UCCI) have signed a memorandum of understanding (MoU) to further cement bilateral trade and economic trade relations.

The agreement was signed by SCCI President Sherbaz Bilour and UCCI President Ulug Beg during a high-level businessmen delegation from Khyber Pakhtunkhwa to Uzbekistan, according to a press release issued here on Thursday.

In connection with Prime Minister Imran Khan’s ongoing visit to Uzbekistan, the delegation of businessmen from KP was led by SCCI president Sherbaz Bilour.

According to the Memorandum of Understanding (MOU) that was signed between SCCI and UCCI, both chambers would make concerted efforts to further enhance mutual trade volume between the two countries, besides bringing business community further near each other and full tap the investment potentials and take benefits from each other experiences as well.

Sherbaz Bilour while speaking on the occasion stressed the need of cementing trade between Pakistan and Central Asian Republic countries, which would help to stabilize the economy of the both countries as well as create new investment opportunities to overcome unemployment issues in the country.

He continued to say that huge opportunities are available to enhance cooperation between Pakistan and Uzbekistan. He hoped the new era of cooperation between Pakistan and Uzbekistan will open after signing several agreements in different potential sectors of the two countries.

SCCI chief invited the Uzbeks investors to make investment in the potential sector in KP.

It is pertinent to mention here that during the visit of KP businessmen delegation in Uzbekistan, led by SCCI President Sherbaz Bilour had met with ministers, high officials and heads belonging to trade and commerce related institutions.

During the meetings, the both sides have agreed to further cement economic and trade ties, especially, making investment in potential sectors in KP, taking benefits from each other’s experiences, strengthening relationship between business communities, jointly organizing trade exhibitions and business to business sessions.