ISLAMABAD, Sep 15 (APP):Speakers at an event held at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Capital House in Islamabad have emphasized that the Pakistan Africa Economic Council (PAEC) could play the role of a catalyst in expanding trade and investment ties between Pakistan, Shenzhen and African markets. They said that the development strategies of Pakistan, China and African countries create considerable room for cooperation, as China's …
Pakistan, China, Africa region can build trilateral economic Cooperation framework
ISLAMABAD, Sep 15 (APP):Speakers at an event held at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Capital House in Islamabad have emphasized that the Pakistan Africa Economic Council (PAEC) could play the role of a catalyst in expanding trade and investment ties between Pakistan, Shenzhen and African markets.
They said that the development strategies of Pakistan, China and African countries create considerable room for cooperation, as China’s industrial capabilities, technology and market demand can complement the resources, industrial priorities and market potential of Pakistan and African countries.
The event was organized in recognition of the services of President of the Shenzhen Government Procurement Association and Chairman of the Industrial Globalization Alliance, Feng Qiang, and to highlight the potential of Shenzhen in promoting international economic cooperation among China, Pakistan and the African region.
Addressing the ceremony, Feng Qiang said Pakistan, China and African countries could build a practical triangular cooperation framework by linking industrial capacity, investment opportunities, procurement demand and regional markets.
He particularly appreciated the vision of Ambassador Hamid Asghar Khan, Patron-in-Chief of the Pakistan Africa Economic Council, for promoting economic and commercial linkages between China, Pakistan and Africa.
Feng Qiang also paid tribute to Ambassador Hamid Asghar Khan and Atif Ikram Sheikh, President of FPCCI, for organizing the event and promoting initiatives aimed at integrating emerging and potential economies.“We come from Shenzhen, a city with strong industrial and technological capabilities, and we see significant potential for cooperation with Pakistan and Africa,” he said.
The President noted that Pakistan’s “Uraan Pakistan Economic Transformation Plan” places emphasis on export growth and digital development, while Africa’s Agenda 2063 and the African Continental Free Trade Area (AfCFTA) provide important frameworks for industrialization, regional integration and market expansion.
“China is advancing high-standard opening-up, promoting high-quality Belt and Road cooperation, and improving comprehensive services for companies operating overseas,” Feng Qiang said.
The President of the Shenzhen Government Procurement Association and Chairman of the Industrial Globalization Alliance called for stronger digital connectivity and industrial cooperation among China, Pakistan and Africa, saying that the three regions possess complementary resources, markets and industrial capabilities that can generate new opportunities for trade, investment, employment and sustainable development.
Speaking about the iGlobal Platform, Feng Qiang said the platform being developed by the Industrial Globalization Alliance is designed as a digital and intelligent international cooperation platform focused on real industrial demand.
According to him, iGlobal would use artificial intelligence to support country analysis, multilingual communication and supply-and-demand matching, while professional teams and local partners would help convert opportunities into executable projects.
“Digital technology can lower the entry barriers to cross-border cooperation and allow more companies to share professional services,” he said.
He said closer coordination in procurement, industrial capacity and investment could help companies from China, Pakistan and Africa identify practical opportunities and develop commercially viable projects.
Speaking on the occasion, Ambassador Hamid Asghar Khan, Patron-in-Chief of the Pakistan Africa Economic Council, said Pakistan, Africa and Shenzhen of China have huge potential for increasing trade among the three sides.
He said that representatives of two apex business bodies from China and Pakistan had come together to explore the future potential of bilateral and trilateral economic cooperation.
Ambassador Hamid Asghar Khan said Shenzhen has the potential for around $660 billion in annual trade, while Pakistan and Africa can play a significant role in strengthening economic integration and enhancing trade.
“We have signed MoUs during the launching of the Pakistan Africa Economic Council, and in future we have a lot of opportunities and potential to accelerate economic ties,” he said.
Meanwhile, Patron-in-Chief of FPCCI Islamabad Aziz Malik said FPCCI would extend full cooperation for increasing economic and trade ties with Shenzhen and the African region.
Vice President of FPCCI Tariq Jadoon said China is Pakistan’s biggest trading partner and a great friend, while the African region has huge potential to provide new opportunities for businesses on both sides.
Diplomats from the African region, including the ambassadors of Rwanda, Mauritius and Morocco, as well as representatives from Sri Lanka, also attended the ceremony.
A number of business leaders, stakeholders and representatives of relevant organizations participated in the event.
The participants expressed the hope that stronger institutional linkages, digital connectivity, procurement cooperation and industrial investment could provide a new foundation for expanding trade and investment between Pakistan, China and Africa.
