LAHORE - Lahore Chamber of Commerce & Industry (LCCI) and CCPIT Sub-Council for Chemical Industry (CCPIT CHEM) Wednesday inked memorandum of understanding (MoU) that would pave way for joint research and transfer of technology in the agriculture sector.

LCCI President Engineer Sohail Lashari inked the MoU on behalf of the Lahore Chamber of Commerce & Industry while CCPIT Sub-Council for Chemical Industry was represented by its Vice Chairperson Ms. Ma Chunyan. The agreement would also strengthen business relations through reciprocal cooperation.

The purpose of this MoU is to establish a practical framework to facilitate the development of stronger business relations between the two parties, and to set forth the modalities of cooperation, which can enhance the implementation of mutually beneficial trade and investment objectives. According to MoU, both organizations will encourage, promote and facilitate trade, investment, technological partnership and exchange as well as sourcing collaboration/opportunities among their business communities in accordance with the laws and regulations of the two countries for the mutual interest of both sides.

LCCI and CCPIT CHEM will facilitate exchange of trade delegations and enhance economic dialogue between the relevant business communities of the two countries.

Both organizations will assist each other in participating or organizing trade fairs, exhibitions, conferences, seminars and other similar activities held in both countries. They will assist each other in holding of CAC Pakistan Expo and CAC Pakistan Summit in Lahore on annual basis.

LCCI and CCPIT CHEM strive to eliminate any obstacle that may hinder the growth of trade and business, by identifying the barriers and finding suitable remedial solutions. They will coordinate to establish and expand business network, which facilitates the circulation of business opportunities and joint ventures, especially outsourcing and technology exchange, available in both countries among the members of LCCI and CCPIT Chem. Speaking on the occasion, the LCCI President Engineer Sohail Lashari said that keeping in view matchless success, LCCI has decided to make CAC exhibition its annual event.

 Vice Chairperson Ms. Ma Chunyan CCPIT Sub-Council for Chemical Industry in her address thanked Lahore Chamber of Commerce & Industry and Punjab government for their support.