KCCI, CEC sign agreement for SME promotion

KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) has signed a memorandum of cooperation with UK-based Commonwealth Entrepreneurs Club (CEC) to promote SMEs and enhance their role in economic development, a statement said.

The memorandum was inked by CEC Chairman and Co-Founder Mobin Rafiq and KCCI President Muhammad Idrees during a meeting held at KCCI which was also attended by BMG General Secretary AQ Khalil, Senior Vice President Abdul Rehman Naqi, Vice President Qazi Zahid Hussain,

CEC Chairman Mobin Rafiq, while highlighting the activities and achievements of the CEC, stated that he is also planning to initiate global sustainable projects aimed at inclusivity and empowering marginalised communities with skills and enabling them with the power of the Small and Medium Enterprises (SMEs) to create jobs and end poverty.

He said that he wanted to realise these goals by connecting more than 5,000 highly successful entrepreneurs from across 54 commonwealth nations to open up new markets, facilitate trade and enhance regional connectivity.

Rafiq hoped that the cooperation of KCCI with CEC would yield beneficial outcomes for the SMEs in Pakistan.

KCCI President Muhammad Idrees said that the memorandum of cooperation between KCCI and CEC is a major milestone which would certainly promote business activities and trade cooperation amongst entrepreneurs from commonwealth countries.

He stressed that the members of CEC must explore investment opportunities available in Karachi and look into the possibility of undertaking joint ventures in this city particularly in the information technology, aquamarine, textiles, construction and other sectors.

“Pakistan’s investment policy is liberal wherein there was no restriction on repatriation of profits and capital,” he added.

The key objective of the memorandum is to work for building partnerships of Pakistani SMEs with the SMEs of commonwealth countries for business collaborations and technology transfer to Pakistan.

Both sides will work to develop proposals for the enhanced role of SMEs and give suggestions to the government for policy reforms. They will also work for increasing Pakistan’s exports, and attractive foreign direct investment to the country.

Diplomatic Missions and Embassies Liaison Subcommittee Chairman Zia ul Arfeen, Fairs, Exhibitions and Trade Delegations Subcommittee Chairman Azeem Ahmed Alvi, KCCI former president Majyd Aziz and KCCI managing committee members were also present at the occasion.