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BUSINESS

FPCCI Hosts Board of Directors Meeting of ICCIA

KARACHI – The Federation of Pakistan Chambers of Commerce and Industry hosted 29th Board of Directors and 62nd Financial Committee Meeting of the Islamic Chamber of Commerce, Industry and Agriculture (ICCIA) at Karachi which were attended by BoD members including Djibouti, Egypt, Iran, Jordan, Kuwait, Niger, Oman, Pakistan, Palestine, Qatar, Saudi Arabia, Sudan, Tunisia, Turkey, Uganda, UAE, Indonesia, Malaysia and Mali etc.

The Board of Directors Meeting of ICCIA discussed in detail the economic activities,   trade relations and investment opportunities among the OIC member countries and showed dissatisfaction on current intra-regional trade i.e. 17% of total trade. Moreover, the meeting reviewed the decisions taken in last meeting about OIC Arbitration Center, OIC Halal Accreditation Center, The Islamic Chamber Research and Information Center etc. The participants agreed for removal of tariff and non-tariff barriers including lack of banking channels, simplification of visa regime, lack of commercial activities and other challenges faced by the Muslim Countries. The meeting also discussed transfer of technology, joint ventures/networking, promotion of Women Entrepreneurs, SMEs sector etc.   

Earlier, the President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) welcomed the delegates and stated that Pakistan is an important member of OIC due to its market sizes particularly its population of 210 million and GDP US$ 331 billion as the first Atomic Power in the Muslim world. Being a founding member of OIC, Pakistan has played a crucial role in strengthen the economic and trade relations among Muslim countries. He hoped that organizing the BoD meeting of ICCIA gave an opportunity to Muslim World to get acquainted of the investment opportunities existing in Pakistan.

On the sideline of the meeting, FPCCI organized Investment Conference and Art & Culture Exhibition to promote the investment, business and cultural activities offered by Pakistan.

It is noticeable that the Headquarter of ICCIA is situated in Pakistan and the said BoD meeting has been organized after 3 decades.

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