Islamabad Chamber of Commerce and Industry (ICCI) and Pakistan Chamber of Commerce in Korea (PCCK) have agreed to jointly encourage and support the development of commercial and industrial cooperation between the two countries with special focus on trade, investment and economic collaboration.

This milestone development reached when both the Chambers inked a Memorandum of Understanding ( MoU ) here at ICCI premises on Wednesday.

Accordingly both the Chambers will organize workshops, seminars and trade fairs to promote business activities and nurture a conducive environment for cooperation.

Nasir Mansoor Qureshi, President Islamabad Chamber of Commerce and Industry signed the MoU while from the other side it was signed by Mr. James Lee, Chairman Pakistan Chamber of Commerce in Korea (PCCK).

In his address Nasir Mansoor Qureshi underlined the need for enhancement of two countries business and trade relations in diversified fields by showcasing the investment friendly atmosphere prevailing in Pakistan.

He emphasized that Korean investors should come forward and invest in Special Economic Zones, carrying multiple attractions for the financers. He said that transfer of Korean Technology, joint ventures in the production of pharmaceutical sector and establishment of an Import-Export Bank will go a long way in the growth of two countries partnership.

On his part James Lee, Chairman Pakistan Chamber of Commerce in Korea said that since its inception the Chamber is working hard for the much needed collaboration for the promotion of businesses between the two sides.

He apprised that a large Korean delegation comprising businessmen from different sectors will visit Islamabad in March 2025 to explore new avenues of collaboration and cooperation for the benefit of the people of both the countries.

Former Presidents Zahid Maqbool, Tariq Sadiq and Mohammad Ejaz Abbasi while highlighting the significance of two countries close ties said that commencement of direct flights will be vital for the purpose.

Air Chief Marshal (R) Sohail Amman and Vice Chairman Pakistan Chamber of Commerce in Korea Zain Taj also shared their views on the subject.

Abdur Rehman Siddiqui Senior Vice President ICCI in his vote of thanks expressed the hope that the MoU will bring the business community as well as the people of two countries closer to each other.

Those present on the occasin also included Nam Gi Hwan Secretary General Pakistan Chamber of Commerce in Korea, ICCI Executive members Malik Mohsin Khalid, Rohail Anwar Butt, Umer Khayam Abbasi, former executive member Naeem Siddiqui and other were also present.