A memorandum of understanding has been signed between the Federation of Pakistan Chambers of Commerce and Industry and the Mashhad Chamber of Commerce and Industries in Lahore.

Governor Punjab Sardar Saleem Haider Khan and Governor General of Iran's Razavi Khorasan province Gholam Hossein Mozaffari attended the signing ceremony.

The purpose of the MoU is to take bilateral volume of exports to ten billion dollars between the two countries.

Speaking on the occasion, Governor Punjab said his Iranian counterpart expressed great interest in Pakistani products, stressing that both countries should focus on expanding trade relations.

He said the Iranian Governor has assured to consider reducing tourist and business visa fees and improving facilities for easier travel and trade.

Later, both governors inaugurated a one-day shopping festival organized by the Lahore Chamber of Commerce and Industry at the Expo Center Lahore.