GUANGZHOU: A significant milestone in Pakistan-China economic relations was achieved as the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Guangzhou Chamber of Commerce and Industry signed a Memorandum of Understanding (MoU) aimed at strengthening bilateral trade and investment ties.
According to Federation of Pakistan Chambers of Commerce and Industry, the MoU was signed during a meeting at the Consulate General of Pakistan in Guangzhou, with FPCCI Senior Vice President Saquib Fayyaz Magoon and Guangzhou Chamber Chairman Richard Wu leading the initiative. The agreement includes the establishment of Arbitration Desks at both chambers to ensure swift resolution of business disputes, and focuses on enhancing trade volumes, reducing barriers, and improving the ease of doing business.
Pakistan's Consul General in Guangzhou, Sardar Mohammad, and Commercial Attaché Mohammad Imran hosted the ceremony. The FPCCI delegation included industrialists and traders from various sectors.
Saquib Fayyaz Magoon expressed gratitude for the support from the Consul General and reaffirmed China's status as Pakistan's most reliable economic partner. Richard Wu highlighted China's economic policy favoring global expansion and identified sectors like renewable energy and agriculture as priorities for Chinese investment in Pakistan.
Chairman Wu also announced a B2B Investment Conference in Lahore on May 9-10, focusing on home appliances, industrial equipment, and energy storage, to foster collaboration between Chinese investors and their Pakistani counterparts.
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