Russia and Lebanon signed Friday a cooperation agreement to boost collaboration in trade and investment between the two countries, according to a statement issued by Lebanon's Chamber of Commerce, Agriculture and Industry.

"The agreement aims at facilitating cooperation between Russia and Lebanon in trade, investment, technology and industry, in addition to creating partnerships between businessmen in the two countries," said the statement.

The agreement was signed between Mohamad Lamaa, vice president of Lebanon's Chamber of Commerce, Industry and Agriculture, and Julia Rostovicova representing the Russian Chamber of Commerce based in Novorossiysk.

Lamaa hailed Russian-Lebanese relations over the years, saying there have been mutual visits between the two countries aiming at boosting economic ties.

"There are multiple ways to create solid cooperation between the two countries. This is why we have to meet regularly to specify new areas of collaboration," he said.

Meanwhile, Rostovicova said Novorossiysk hosts the most important port in Russia, where most of the import and export activities take place.

"Novorossiysk has a very strategic location and is considered a very important business hub," she said.

"We are willing to offer all necessary help for Lebanese businessmen willing to establish businesses in our area," she said, emphasizing Russia's great interest in dealing with Lebanon in agriculture and food industries.

Source: NAM News Network