PMEX delegation visits China

KARACHI: A delegation of PMEX visited China in September. During this visit, PMEX officials met with the management of Dalian Commodity Exchange (DCE) and Zhengzhou Commodity Exchange (ZCE). 

In these meetings, matters relating to development and enhancement of derivatives and financial markets in Pakistan and China through building mutual collaboration were discussed.

The top of the agenda item was discussion regarding cross-listing of commodities. PMEX presented a business model and the regulatory framework for the cross-listing. The other items discussed included commodities to be cross listed, movement of foreign exchange, warehousing and logistics.

The Chinese commodity exchanges expressed keen interest in cross-listing of commodities and ensured PMEX of their full cooperation and support in achieving this objective.

“Pakistan-China bilateral ties are time tested and are expected to further consolidate with the commencement of work on China Pakistan Economic Corridor (CEPC), a flagship program of One Belt One Road, which is a game changer for the region and beyond. PMEX strongly believes that the enhancement of transportation linkages and the development of other related infrastructure under the CPEC will pave the way for enhancing the trade between the two countries”, said Mr. Ejaz Ali Shah, Managing Director, PMEX. He further said “The cross-listing of products will go a long way in achieving PMEX’s vision of linking its business to the real economy and in the process showcasing the Pakistan agriculture produce at a global trading platform.”**