Islamabad (P R) - China Council for the Promotion of International Trade, Sichuan Council (CCPIT Sichuan Council) and leaders from South Asia Chamber of Commerce and Industry have pledged for promotion of bilateral trade relation between China and SAARC and have signed MOU for promotion of economic cooperation.

CCPIT, Sichuan Council separately signed MoUs with the representatives of National Chambers of Commerce & Industry after the conclusion of “South Asia Sichuan Business Promotion Seminar “on 29th January 2010 in Chengdu .

Mr. Tariq Sayeed, former President FPCCI signed MoU on behalf of the Private Sector of Pakistan , who was accompanied by Mr. Muhammad Mansha Churra, Vice President, FPCCI.

The Business Leaders from South discussed Asia their plans for 2010, exchanged ideas and experience in relation to operational approaches and examined long-term cooperation mechanisms for economic and trade collaboration for Sichuan –South Asia Regions Economy & trade and signed agreements of cooperation to further enhance Economic Cooperation between China and South Asian Countries through exchange of information, participation in mega events on economic issues.

Under MOU, CCIPT, Sichuan Council will provide favorable terms to South Asian countries in the “Western China International Economy and Trade Fair”, while the South Asia Regions consented to send economic, trade and Government Delegations to attend ‘South Asia Countries Commodities Pavilion Western China International Economy and trade fair as a regular annual feature. CCPT will extend cooperation to enhance cooperation in trade, investment, technology, logistic and transport.

CCIPT signed MoU with Afghanistan Chamber of Commerce & Industries, Federation of Bangladesh Chamber of Commerce and Industries , Bhutan Chamber of Commerce and Industries , India Trade Promotion Organization , Bombay Chamber of Commerce and Industries, Maldives National Chamber of Commerce & Industries , Nepal Chamber of Commerce, Nepal China Executives – China Business Council of FPCCI, the Federation of Pakistan Chamber of Commerce and Industry, National Chamber of Commerce of Sri Lanka and Sri Lanka Business Co-operation Council.

CCIPT proposed that the ;South Asia – Sichuan Business Promotion Seminar shall be held annually in Chengdu to build long term effective mechanism and assured its cooperation to further strengthen business ties with South Asia.