KARACHI, Feb 5: The Karachi Chamber of Commerce and Industry (KCCI) here on Saturday singed a memorandum of understanding (MoU) with the Young Industrialists and Business Association (GESIAD) of Kayseri, Turkey.

GESIAD President Etugrul Tocuhasamoglu and KCCI President Khalid Firoz signed the MoU that seeks cooperation in activities for industrial and technological advancement between the two trade bodies.

They will exchange information on all economic and commercial matters and holding of trade fairs in Turkey and Pakistan.

The GESIAD president said political and cultural relations between the two countries were very cordial but business relations were lagging behind.

"We want to develop these relations by identifying products and areas and encouraging matchmaking for joint ventures between Pakistani and Turkish businessmen.

The KCCI chief underlined the need for immediate exchange of list of tradable items for distribution among the members of both chambers.

Mr Tocuhasamoglu said that soon after return to Turkey, he would send the list of items to the KCCI.-APP