FPCCI signs three MoUs at Belt and Road Conference

FPCCI signs three MoUs at Belt and Road Conference

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has taken significant steps towards strengthening international trade relations by signing three Memoranda of Understanding (MoUs) at the Belt and Road CEO Conference held in Beijing, China.

A statement released on Thursday confirmed that Engr. Daroo Khan Achakzai, President of FPCCI, signed the MoUs with the China Council for the Promotion of International Trade (CCPIT) Chongqing, CCPIT Tianjin, and CCPIT Xinjiang. These agreements mark a pivotal moment for FPCCI as it seeks to enhance collaboration with key Chinese trade bodies.

The Belt and Road CEO Conference, organized by CCPIT, China Chamber of International Commerce, All-China Federation of Industry and Commerce (ACFIC), and the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), was held at the China National Convention Center in Beijing. The event attracted 900 business leaders from 88 countries, emphasizing global economic integration and cooperation.

In his address at the conference, Engr. Daroo Khan highlighted the significance of the Belt and Road Initiative (BRI) as a transformative project aimed at reducing poverty, promoting trade and investment, and fostering economic growth and regional as well as global disparity reduction. He noted that the China-Pakistan Economic Corridor (CPEC), a crucial component of BRI, holds immense potential for connecting the landlocked Central Asian countries with the Middle East and Africa.

Engr. Daroo Khan underscored the importance of technological transfers, digitalization, information sharing, and innovation to drive industrialization under the BRI framework. “CPEC is one of the important corridors of BRI that would connect the landlocked Central Asian Countries with the Middle East and Africa,” he stated, stressing the need for advanced technological collaboration and innovation.

The conference, inaugurated by Chinese President Xi Jinping, was a platform for discussing deepened cooperation and economic integration among participating nations. President Xi emphasized the BRI’s role in fostering global economic development and creating new opportunities for international partnerships.

The signing of the MoUs between FPCCI and CCPIT branches in Chongqing, Tianjin, and Xinjiang is expected to facilitate enhanced trade relations, investment opportunities, and economic collaboration between Pakistan and China. These agreements are poised to strengthen the bilateral ties further and open new avenues for Pakistani businesses in Chinese markets.

The Belt and Road CEO Conference serves as a testament to the growing importance of international trade cooperation and the strategic role of initiatives like BRI in shaping the future of global commerce. As FPCCI continues to forge new partnerships, the focus remains on leveraging these collaborations to drive economic growth and prosperity for Pakistan.