In a landmark development aimed at building business confidence across Asia, the SAARC Chamber of Commerce and Industry (SAARC CCI) and the China Council for the Promotion of International Trade (CCPIT) have signed a crucial Memorandum of Understanding (MoU) to strengthen commercial legal services and dispute resolution mechanisms, a move designed to underpin sustainable regional integration.

According to SAARC Chamber of Commerce and Industry’s information today, the agreement was a key outcome of the 18th China-South Asia Business Forum (CSABF), held from October 15-16 in Yunnan Province, which convened a high-level South Asian delegation led by Mr. Chandi Raj Dhakal, President (Elect) of SAARC CCI, according to SAARC Chamber of Commerce and Industry’s information today.

Representing the collective voice of the South Asian private sector, Mr. Dhakal emphasized the immense economic potential of the regions. “South Asia, ASEAN, and China together represent over 40% of the world’s population and nearly one-third of global GDP,” he noted, calling for a harmonized legal framework to support inclusive growth.

The newly established MoU creates a cooperative framework for mediation and legal services, aiming to foster a more predictable and secure environment for trade and investment. Mr. Dhakal, who signed the pact on behalf of SAARC CCI, invited deeper collaboration with CCPIT’s legal services network.

Mr. Zulfiqar Ali Butt, Secretary General of SAARC CCI, represented Pakistan at the forum, highlighting the nation”s strategic role in regional connectivity. He pointed to the China-Pakistan Economic Corridor (CPEC) as a transformative project under the Belt and Road Initiative (BRI). With over USD 25 billion in completed projects, CPEC and the operational Gwadar Port now serve as a vital link connecting South Asia with Central Asia, the Middle East, and China.

Voices from across the region echoed the theme of enhanced partnership. Ms. Jyotsna Shrestha of Nepal”s FNCCI appreciated China”s engagement and stressed the need for inclusive growth and women”s participation in trade.

Mr. Md. Alamgir from the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) described China as a “role model for South Asian nations,” citing its advancements in technology and green innovation as examples of how to harness new productive forces.

Representing Sri Lanka, which served as the Chair for this year”s Forum, Mr. Keerthi Gunawardane of FCCISL remarked that closer trade links would help create a more cohesive and interconnected regional market, facilitating the smoother movement of goods, capital, and services.

On the sidelines of the main event, the China-South Asia Business Council convened a working meeting to review outcomes and discuss future strategies. During this session, Bangladesh was formally announced as the host for the 19th China-South Asia Business Forum, with Mr. Md. Alamgir accepting the Chairmanship.

Looking ahead, Mr. Zulfiqar Ali Butt proposed that future forums should ensure the participation of trade ministers and called for improved coordination between national chambers and Chinese embassies for better implementation of agreements.

The forum concluded with a shared commitment from all participants to deepen legal and economic ties, reinforcing the spirit of mutual growth between China, South Asia, and ASEAN.