LAHORE (ABC): In a move that promises to bolster economic ties and foster business development in Pakistan, the Lahore Overseas Chinese Association (LOCA) signed a Memorandum of Understanding (MoU) with the Pakistan Hong Kong Trade and Investment Forum (PHKTIF).
Under the terms of the MoU, the two organizations will collaborate to promote trade and investment opportunities between Pakistan and Hong Kong, focusing on enhancing business-to-business (B2B) relationships and facilitating market access for Pakistani products in Hong Kong and vice versa.
LOCA and PHKTIF have agreed to explore local markets in Pakistan, Hong Kong SAR, and Macao SAR and provide assistance in developing businesses and increasing investment in Pakistan.
According to Gwadar Pro, the signing of the MoU is expected to pave the way for a series of joint initiatives, including business matchmaking events, trade missions, and workshops aimed at enhancing the capacity of Pakistani businesses to engage in international trade.
The Chinese community in Pakistan has played a significant role in promoting economic development and cultural exchanges.
The partnership with PHKTIF will further strengthen these ties and open up new avenues for business growth.
Through this collaboration, both sides aim to create more business opportunities for their members and contribute to the economic prosperity of Pakistan.
The MoU was signed by Ms. He Yubing, Vice President of LOCA, and Mr. Ali Awan, Trade Development Officer at the Consulate General of Pakistan in Hong Kong SAR on behalf of PHKTIF, in the presence of Mr. Shahzad Ahmed Khan Rajput, Consul General of Pakistan in Hong Kong SAR.
Industry experts have hailed the partnership as a win-win situation for both Pakistan and Hong Kong, with the potential to boost bilateral trade and investment, create jobs, and drive economic growth in both regions.