The Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) hosted a high-level meeting with the Golden Ring Economic Forum (GREF) in Lahore to discuss economic strategies and collaborative initiatives aimed at strengthening regional ties within the Golden Ring framework.
The meeting was attended by Chairperson of GREF Sikander Afzal, President of GREF Engr Hasnain Reza Mirza, Vice President of GREF Kashif Yunus Meher, Patron Pakistan Tax Bar Shahbaz Siddique, President Lahore Tax Bar, and PCJCCI officials.
Discussions focused on the potential of barter trade between Pakistan and China to reduce reliance on conventional trade practices. Participants also explored shared economic recovery initiatives to address the challenges posed by the global economic slowdown and foster bilateral trade resilience.
Sikander Afzal explained that the forum, a strategic economic policy think tank established in Lahore in 2015, aims to enhance economic cooperation among China, Iran, Pakistan, Russia and Turkey, collectively known as the Golden Ring.
Registered under the Society’s Act in 2016, GREF continues to play a pivotal role in fostering regional economic integration. He added that China’s leadership in modern technology presents a unique opportunity for Pakistan to accelerate its industrial and technological development. By adopting these innovations, Pakistan can enhance its economic capabilities and create sustainable growth.
The president of the PCJCCI, acknowledged the pivotal role of China’s contemporary technology in boosting economic growth. He stressed the importance of adopting advanced Chinese technologies in sectors such as agriculture, energy and manufacturing to enhance productivity and efficiency. He also highlighted the significance of collaborating on industrial digitisation, renewable energy projects, and smart infrastructure to accelerate economic transformation. Mansoor Saeed Sheikh, senior vice president of the PCJCCI, highlighted the importance of currency swap arrangements between Pakistan and China to facilitate smoother trade transactions and reduce reliance on foreign exchange reserves. Such measures, coupled with technological collaborations, are expected to create a more stable economic environment to strengthen ties between the two nations.
The president of GREF, remarked that China’s technological advancements in renewable energy, precision farming, and digital infrastructure can be game-changers for Pakistan.Zafar Iqbal, vice president of the PCJCCI, highlighted the importance of coordinated efforts to overcome global economic challenges. He proposed a series of shared initiatives, including joint infrastructure development, enhanced trade connectivity, and co-investment in energy and industrial projects. The forum highlighted the Belt and Road Initiative (BRI) as a cornerstone for collaborative growth, offering opportunities for countries like Pakistan to expand their trade routes and build modern transport networks.
The meeting concluded with a shared commitment to enhance dialogue and cooperation between stakeholders, ensuring that Pakistan and its Golden Ring partners capitalise on emerging economic and technological opportunities.
The representational image shows a farmer harvesting wheat at a field in the outskirts of Lahore, in Punjab province,...
Traders are seen in front of a screen with trading figures in red at Thailand Stock Exchange building in Bangkok,...
Tesla Inc CEO Elon Musk walks next to a screen showing an image of Tesla Model 3 car during an opening ceremony for...
US President Donald Trump looks on, on the day he signs an executive order in the Oval Office at the White House in...
Nissan and Honda motors officials shaking hands. — AFP/File TOKYO: Nissan shares plunged on Wednesday as media...
The DeepSeek app is seen in this illustration taken on January 29, 2025. — ReutersPARIS: All eyes are on the French...