Monday, June 24, 2024

Strengthening Pak-China Economic Cooperation: Key Insights from HBL and Qingdao Seminar

On June 4, 2024, a significant seminar titled ‘Pakistan’s Macroeconomic Policy and Market Opportunities’ was successfully held, jointly organized by HBL, Qingdao Rural and Commercial Bank, and the Shanghai Cooperation Organization Demonstration Zone. The event was conducted under the guidance and support of the Qingdao Bureau of Commerce and the Qingdao Municipal Party Committee Financial Office

Featured key participants such as Risha Mohyeddin, Global Treasurer of HBL Treasury and Global Markets; Cheng Wei, Country Manager of HBL China; Yu Hao, Deputy Director of Qingdao Municipal Bureau of Commerce; and Yang Weiwei, Deputy Director of Qingdao Municipal Party Committee Financial Office. The seminar attracted representatives from over 70 enterprises, showcasing a broad interest in Pakistan’s economic landscape.

Mr. Risha Mohyeddin delivered an insightful presentation on Pakistan’s local economy, foreign exchange policy, and market opportunities, analysing the country’s economic status, industrial policy, market demand, and capital flows. He highlighted substantial opportunities across sectors such as agriculture, energy, and information technology, providing guidance on aligning products and services with market needs.

Emphasizing the importance of enhancing bilateral financial business relationships, Mr. Mohyeddin advocated for increased efforts to develop connectivity business in Shandong Province by leveraging strengths in agricultural inclusion, financing, and services, with a focus on poverty alleviation and agricultural support. He also underscored the strategic benefits of the China-Pakistan Economic Corridor for strengthening trade and project financing links with South Asia.

The seminar featured interactive sessions where enterprises engaged directly with Mr. Risha Mohyeddin and Ms. Cheng Wei on topics including cross-border RMB settlement in China-Pakistan trade and foreign exchange transactions, offering valuable insights and fostering deeper business relationships.

This seminar has invigorated financial cooperation between Pakistan and China, with HBL and Qingdao Rural and Commercial Bank committed to deepening pragmatic cooperation under the Belt and Road Initiative. They aim to explore innovative cooperation models and paths in response to the evolving international landscape. HBL plans to continue leveraging its expertise in financial services to further enhance economic and trade cooperation between Pakistan and China, contributing to mutual development and prosperity. This seminar marks a significant step towards strengthening Pakistan-China financial and economic ties, promising new opportunities and collaborative ventures in the future.

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