LAHORE - The Lahore Chamber of Commerce and Industry (LCCI) and the Punjab Board of Investment and Trade (PBIT) will conduct joint economic, sectoral and country-specific studies to formulate a joint action plan for attracting new investment in the province. The decision was taken at a meeting between the LCCI President Shahzad Ali Malik and Chief Executive Officer Punjab Board of Trade and Investment Sadaat Muzaffar here at the Lahore Chamber of Commerce and Industry on Friday. Director General LCCI R&D Dr Amjad Bashir was also present in the meeting. Both the sides also agreed to constitute a joint core working group to evaluate and reinforce the partnership between the two organizations. It was also decided that a regular consultation mechanism would also be evolved to ensure result-oriented research studies to the stakeholders. The Lahore Chamber of Commerce and Industry has taken two special strategic initiatives for promoting Pak-China and Pak-Turkey trade and investment during 2011. LCCI-PBIT Working Group will identify sectors, opportunities and locations in Punjab where investment from these two important trading partners could be attracted for creating new economic activities in the province. Speaking on the occasion, the LCCI President Shahzad Ali Malik said that research was critical to taking a strategic approach to planning or economic growth and improved productivity. It is only through economic growth and improved productivity that we could create employment opportunity. The CEO PBIT Saadat Muzaffar, while throwing light on the role of Punjab Board of Investment and Trade said that PBIT is Punjabs premier investment promotion agency linking Punjab to a global network of progressive investors promoting projects with burgeoning potential. This one-window-operation also facilitates investors by streamlining procedures and institutional processes through proactive policy advocacy within the government. He said that the PBIT aims to build Punjabs most prized human capital asset as already resource rich, Punjab has infinite possibilities to become a world leader in food production and processing, stemming from availability of arable land and the best canal irrigation system in the world.