LAHORE, April 12: The Lahore and Sarhad chambers of commerce and industry signed a memorandum of understanding on Saturday for making joint efforts for the promotion of trade and industry.

According to the MoU initialled by LCCI president Mohammad Ali Mian and SCCI president Haji Mohammad Asif the standing committees of both the chambers would evolve a unified strategy on the issues of common interest.

Both the chambers would share and exchange all trade-related data for increasing the competitiveness of goods and reducing cost of doing business.

They would also cooperate in preparation of proposals for the next budget and would conduct joint research studies to develop industries in Punjab and the NWFP.

Speaking on the occasion, Mohammad Ali Mian said that both the chambers would forward joint proposals to the federal government for the federal budget. Efforts would also be made for attracting investment for Reconstruction Opportunities Zones.

He said that harmony between the two chambers would help solve the problems being faced by the business community in the country.

The LCCI has already signed MoUs with chambers of commerce and industry of Faisalabad, Rawalpindi, Bahawalpur, Sahiwal and Sargodha.