LCCI, Hounslow CCI sign MoU

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) and Hounslow Chamber of Commerce and Industry, UK have inked a memorandum of understanding to increase cooperation towards improving trade and economic activities between Pakistan and United Kingdom.

LCCI President Mian Tariq Misbah and Hounslow Chamber of Commerce and Industry Chairman Christopher Durkin signed the MoU.

The MoU aims at increasing trade and investment opportunities for the members of both LCCI and Hounslow CCI. Misbah said both countries are maintaining the level of two way trade well over $2 billion. In 2020, the bilateral trade volume stood at $2.34 billion. Pakistan’s exports to UK are around $1.73 billion, while our imports from UK are $611 million. Durkin said the London borough of Hounslow has a business community in excess of some 18,000 companies that reflect all aspects of that diversity. Hounslow CCI Managing Director Alan Rides said that London city was one of the main hubs of business generation as it generates £500 billion and Hounslow CCI share was £40 billion.