A new Memorandum of Understanding (MoU) signed today between the British Business Centre and the Lahore Chamber of Commerce and Industry (LCCI), as promised by UK Prime Minister David Cameron. The MoU will help boost bilateral trade and investment between the UK and Pakistan.
The signing was witnessed by the British High Commissioner to Pakistan, Thomas Drew CMG. The British Business Centre and its partnership with the LCCI helps create a new body set up to assist British and Pakistani businesses develop closer links.
The signing ceremony was also attended by the Finance Minister of Punjab, Dr Ayesha Ghaus Pasha, and senior members of LCCI including the Senior Vice President, Mr Almas Hyder.
The MoU will facilitate and expand trade and investment cooperation between the United Kingdom and Punjab through the exchange of information on economic, commercial and industrial matters.
Speaking at the ceremony, the British High Commissioner to Pakistan, Thomas Drew CMG said:
The British Business Centre opened earlier this year. It fulfils the commitment, given by Prime Minister Cameron to Prime Minister Sharif, that the United Kingdom Government, with the assistance of the Government of Pakistan, would establish a new body in Pakistan to boost bilateral trade and investment between our 2 countries.
Today’s agreement with LCCI is an important step in that process. It will make real the work of the British Business Centre in Lahore - another step to strengthen the existing trade and investment partnership between the United Kingdom and Pakistan.
The Centre will work throughout the country. But today’s signing in Lahore is particularly special for us – not just because we do so on the day that we are also celebrating HM The Queen’s Birthday in Lahore – but because Lahore, and the province of which it is capital, matter.
Lahore is one of the 20 most populous cities in the world; indeed if Punjab was a country, it would be the 11th most populous; and has a large and growing consumer class. Just look at the energy of the provincial Government which Dr Pasha represents. Things are getting done. And just look at the historical links between our 2 – countries.
So of course, British and Pakistani businesses should be working together here and thriving. It is a message I give here and one I give back in the UK. And this MoU is an important part of it. Through it, the British Business Centre can assist in opening up the opportunities available to a wide business audience in the UK.
I thank the Senior Vice President, Mr Almas Hyder, for joining with the British Business Centre and creating this partnership. We look forward to working with you and your team to harness the great potential that this highly lucrative market has to offer.
Notes for Editors
- The British High Commissioner to Pakistan, Thomas Drew CMG tweets at @TomDrewUK