- Pakistan and Algeria are set to raise the bilateral trade volume to $1 billion. A joint Business council has been set up between the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Algerian Chamber of Commerce and Industry (CACI).
Pakistan and Algeria are set to raise the bilateral trade volume to $1 billion. A joint Business council has been set up between the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Algerian Chamber of Commerce and Industry (CACI). The agreement was signed at the FPCCI head office in Pakistan.
The objectives of the JBC include ensuring the direct exchange of information among Algerian and Pakistani business communities regarding the economic and market situations, business opportunities as well as, and technological and industrial cooperation.
The council would act as a platform to facilitate businesses on both sides including joint ventures, transfer of technology, and licensing. Both business associations will strive to strengthen bilateral economic relations. They will also study the potential of economic cooperation, and identify challenges if any. They will submit recommendations on policy measures to their respective governments to develop economic cooperation between the two countries.
Speaking on the occasion, FPCCI chairman Irfan Iqbal Sheikh stated that Pak-Algeria JBC would create an enabling environment for both the chambers and foster economic ties. Bilateral trade between Pakistan and Algeria had gradually declined during the past from $100 million to less than $25 million with a trade balance in favor of Algeria.
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https://trendsnafrica.com/business-council-between-algeria-and-libya-activated/
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Tayeb Chaibab, president of CACI, was positively confident that FPCCI and Algerian chamber would be able to enhance the bilateral trade promoting exchange of delegations, trade fairs and exhibitions, and people-to-people/chamber-to-chamber linkages through capitalising on the newly formed JBC.
