The Lahore Chamber of Commerce and Industry Friday inked a memorandum of understanding (MoU) with University of Engineering & Technology (UET) to work together for the economic development of the country. LCCI President Abdul Basit and Vice Chancellor, UET Professor Dr Fazal Ahmad Khalid signed the document in the presence of the LCCI office bearers.
The agreement is continuity of the LCCI endeavours aimed at filling the communication gap between the industry and academia. The MoU will enable both the institutions to share their knowledge and experience for mutual benefits. It was also agreed that both the sides will conduct joint seminars and workshops on common issues. Abdul Basit said that linking academia with the business needs is a crucial step which should remain at the forefront to motivate both the sides and enhance their skills. The MoU with University will pave way for the progress and prosperity of the country, he said. The LCCI will make best use of this facility as a number of economic challenges have direct link with the unavailability of correct data.
It will not only further strengthen university-industry collaboration but it would also help researchers to have access to the real challenges being encountered by the trade and Industry, he added. The LCCI President said that the Lahore Chamber has already signed a number of MoUs with the educational institutions and this agreement would also go a long way for the promotion of regional trade that is buzz word in today's global village. Speaking on the occasion, the UET Vice Chancellor assured his full support to promote research and development culture in the country.