RAWALPINDI, July 2: The chambers of commerce and industry of Rawalpindi and Cuba inked a memorandum of understanding (MoU) here on Monday for the promotion of trade and economic relations between the two countries.

Cuban Ambassador Gustavo Machin Gomez and Rawalpindi Chamber of Commerce and Industry (RCCI) President Dr Hassan Sarosh Akram signed the memorandum.

Both the chambers will study the pace of economic development and will assist each other in arranging exchanges of official missions and commercial and economic delegations to open up new avenues for mutual collaboration.

It was also agreed that the two chambers will regularly exchange business information for the benefit of the respective business communities. They will cooperate in holding international exhibitions, economic and technical seminars, conferences, etc., to facilitate their traders in displaying their products.

Speaking on the occasion, the Cuban ambassador underlined the need for more cooperation between Pakistan and Cuba in the area of trade and business, and hoped that the MoU would help improve trade relations between the two countries.—A Reporter