Lahore—The Lahore Chamber of Commerce & Industry (LCCI) and SAARC Arbitration Council (SAARCO) on Friday signed Memorandum of understanding (MOU) to further strengthen the process of mediation in the region. The LCCI vice-president Nasir Saeed inked MoU on behalf of the Lahore Chamber of Commerce while Directory General SAARC Arbitration Council Thusantha Wijemanna signed the document on behalf of SAARC Arbitration Council. Former LCCI President Sohail Lashari, Executive Committee Members Mian Aziz Chan, Nasira Taskeen, Amjad Ali Jawa, Mian Zahid Jawaid, Zahid Maqsood Butt were also present on the occasion.
The LCCI Vice President Nasir Saeed said that by way of developing close liaison with each other we can greatly add to present arrangements available to the representatives of business community for resolving their trade disputes through conciliation and arbitration. He said that the Lahore Chamber has already taken a positive step through establishing a Mediation Center in collaboration with IFC in August 2012. We have also signed MOUs with six important chambers of Punjab so that this platform may be utilized by most of the businessmen. The Director General SARCO Thusantha Wijemanna in his address, urged the LCCI members to avail the services of SAARC Arbitration Council (SARCO) to settle their disputes out of the court with their counterparts in SAARC member states. He said that SAARC Arbitration Council (SARCO) is acting as a quality alternative dispute resolution forum, that world act on behalf of governments and the people of SAARC Member States on its panel of arbitrators and conciliators.