LAHORE: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI)) has signed an agreement with The Belt & Road Service Connections (BNRSC) to promote mutual development of business along with the successful development of the Belt and Road Initiative.
FPCCI Regional Chairman and Vice President Mian Rehman Aziz and Chairperson Belt & Road Service Connections (BNRSC) and Vice President of China International Chamber of Commerce for the private sector, Dr Wang Li signed the memorandum on behalf of their respective organisations, here on Thursday.
This agreement will provide business opportunities, in line with the “Belt and Road” national strategy of China, together with various national and international institutions all over the globe e.g. international and domestic consulting, legal, accounting, financial and technological professionals, chambers of commerce and governmental agencies.
Mian Rehman said The BNRSC is global platform for projects, services, research, policy, information and cooperation under the framework of the Belt and Road.
The institution focuses on advantageous resources and assist enterprises of China and countries along the “B&R” economic zone in evaluating investment environment, recognizing investment environment risks, making reactive strategies and providing professional systematic services.
The MoU will promote process of investment, cooperation, establishment of Industries, financing and Mergers & acquisitions (M&A) between China and Pakistan.
The FPCCI regional chairman said the BNRSC will integrate various activities to serve businesses through interaction among society, market, government, enterprises advertisement service institutions with multilateral and bilateral mechanism or one to one method and provide assistance to Pakistani business community in carrying out research, economics and laws; hold various seminar and symposia, coordinate between regional and national projects, provide customized professional training for clients, provide design and evaluation technology and transaction structure of projects.
Belt & Road Services Connections (BNRSC) Chairperson Dr Wang Li highlighted the importance of the agreement signed and said that there is a rise in international consensus.
More than 70 countries and organizations expressed their support and willingness to join, exceeding the traditional area of "Belt and Road," essentially forming an international cooperation frame with extensive influences.
At the same time, 34 countries and international organizations signed inter-governmental cooperation agreements with China to build "Belt and Road," on the basis of which detailed cooperation plans will be formed.
Significant development has been made in economic corridor construction. China, Mongolia and Russia have reached consensus in building economic corridor and are working quickly to formulate plans and outlines.
China-Pakistan economic corridor started early and developed fast, with a number of major projects launched. New eurasia continental bridges corridor, China-Bangladesh-India-Myanmar economic corridor is steadily developing.
She added connectivity net is in the gradual formation. Connectivity is the fundamental project for "One Road One Belt" initiative.
Improving the land, marine and air connection on Asian and European continent will create better conditions for cooperation.
Li underlined that, in the next step, China will continue to hold the principle of "mutual discussion, mutual construction, mutual privileges", further join China's development with "Belt and Road" countries' development, allowing the "Belt and Road" initiative fruits to benefit the people more.
She said financial support mechanism is starting to work. Asian Infrastructure Investment Bank (AIIB) started to operate at the beginning of this year.
Silk Road Fund formally launched its first batch of investment projects. Countries along the line are actively discussing the establishment or the expansion of bilateral cooperation funds of all kinds. Financial cooperation is unfolding quickly, which provides strong support for the construction of important projects.
