By NNN-KUNA,
Riyadh : The union of Chambers of Commerce and Industry in the Gulf Cooperation Council (GCC) states and the Arab Banks Union (ABU) have signed a memorandum of understanding (MoU) aimed at serving the Arab economy.
Secretary-general of the union of Chambers Abdulraheem Al-Naqi said in a statement Sunday both parties agreed to carry out economic and banking research and studies, as well as exchanging expertise, organising conferences in Arab and European capitals.
The Mou, he said, stipulates cooperation in banking and financial laws and legislation. It also calls for promotion of trade and investment between GCC states and Arab countries, said Al-Naqi.
He noted that the union signed late last year an MoU with the union of European Chambers of Commerce to boost trade exchange and investment.