KARACHI: The Karachi Chamber of Commerce & Industry and Friends of Pakistan USA signed a three-year memorandum of understanding to expand trade, entrepreneurship and economic cooperation between Pakistan and the United States.
KCCI President Muhammad Rehan Hanif and Jamal Khawaja, president of Friends of Pakistan USA, signed the agreement at the chamber's Karachi offices. Friends of Pakistan USA operates the Pakistan Trade Advisory.
Junaid Esmail Makda, a former KCCI president and chairman of its Special Committee to Implement MoUs, and Farrukh Sheikh, vice president of the Pakistan Trade Advisory, witnessed the signing.
Under the agreement, the two organizations will work to connect Pakistani companies with U.S. markets, investors and potential joint-venture partners, Hanif said. They plan to organize trade delegations, business forums, exhibitions and networking sessions to help companies establish direct commercial ties.
The pact focuses on sectors where Pakistan has considerable capacity, including information technology, textiles, agriculture, manufacturing and startups, Hanif said. He said stronger engagement with the U.S. market in those areas could generate significant export, investment and partnership opportunities.
The organizations also will share market intelligence on tariffs, regulatory requirements, compliance procedures and market-access conditions. Hanif said the information would be particularly useful to small and medium-sized enterprises, helping them better understand the U.S. market and make informed decisions.
"The three-year agreement provides a structured and sustainable platform for the private sectors of Pakistan and the United States to move beyond traditional business contacts towards meaningful trade, investment and joint-venture partnerships," Hanif said. "KCCI is committed to utilizing this framework to create tangible opportunities for Pakistani businesses, particularly SMEs, to expand their international footprint and become more competitive in global markets."
Hanif said he was confident the partnership would deepen commercial engagement between the two countries and open new avenues for trade, investment, technology collaboration and private-sector-led growth.
