KARACHI, May 16: The Poland-Pakistan Joint Business Council (JBC) was formalised during a joint meeting between the Poland Chamber of Commerce and the FPCCI in a meeting recently held in Warsaw.

Federation of Pakistan Chambers of Commerce and Industry president Tanvir Ahmad Sheikh suggested that both the chambers should explore new avenues for promotion of bilateral trade and joint ventures.

He also suggested diversification of two-way trade to increase the volume, which is very negligible.

Mr Tanvir said that the business council would be responsible for identifying potential sectors for initiating joint ventures, holding of single country exhibition on reciprocal basis and new areas of economic cooperation.

The FPCCI president recently led a trade delegation to Poland, as follow-up of a memorandum of understanding signed between FPCCI and Polish Chamber during the visit of President Pervez Musharraf in April last year.

Mr Tanvir and Poland Chamber of Industry and Trade President Anjay Arendarski discussed cooperation in the areas of automotives, paper production, energy, coal mining, seeds edible oil, food industry and textile.—PPI