The Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) has taken a significant step towards strengthening economic cooperation with China. It signed a Memorandum of Understanding (MoU) with Hong Kong’s Precision Development (HK) Limited on Wednesday. This historic agreement aims to enhance trade, investment, and technical cooperation between the two countries.
The signing ceremony was attended by key figures, including Jiang Yi of the All-China Federation of Industry and Commerce (ACFIC), Heo David Chiu and He Amanda of Precision Development. PCJCCI President Nazir Hussain, who presided over the ceremony, stressed the importance of this MoU in advancing economic relations between Pakistan and China. He said that establishing a PCJCCI base in Shenzhen will serve as a means for better connections between the private sectors of both countries, facilitating direct contact between Pakistani businesses and Chinese industries.
Brigadier Mansoor Saeed Sheikh (Retired), Senior Vice President of PCJCCI, pointed out that this is an opportunity for Pakistan to model its sustainable economic development on the success of China’s industrial innovation. This strategic partnership is poised to attract foreign investment and promote economic growth in various sectors such as technology, renewable energy, and manufacturing.
Heo David Chiu, CEO of Precision Development, expressed optimism about Pakistan’s potential for industrial cooperation and renewable energy partnerships, which he believes will strengthen the economic foundation between the two nations. Salahuddin Hanif, Secretary General of PCJCCI, echoed this sentiment, noting that this MoU marks a transformative phase in China-Pakistan trade relations, shifting from government-led to dynamic business-to-business collaborations.
The ceremony concluded with an exchange of gifts, reinforcing the shared commitment to economic partnership, technological advancement, and lasting friendship, in line with the enduring vision of the China-Pakistan Economic Corridor (CPEC).