AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Lahore: The Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) has joined forces with Precision Development (HK) Limited, a Hong Kong-based enterprise, through a Memorandum of Understanding aimed at fostering trade, investment, and technological cooperation between Pakistan and China.
The signing ceremony, held on Wednesday, was attended by prominent figures including Jiang Yi of the All-China Federation of Industry and Commerce, and Hiu David Chu, CEO of Precision Development (HK) Limited. Nazir Hussain, President of PCJCCI, led the proceedings alongside other senior officials from the chamber.
Nazir Hussain emphasized that the agreement marks a significant advancement in economic cooperation between the two nations. Establishing PCJCCI’s base in Shenzhen is expected to create a direct bridge between Pakistani businesses and Chinese industries, potentially attracting investment in key sectors such as technology, renewable energy, and manufacturing.
Brig. Mansoor Saeed Sheikh (Retd), Senior Vice President of PCJCCI, highlighted China’s success in industrial innovation as a model for sustainable economic development in Pakistan. He noted that the collaboration aims to exchange expertise and create new growth opportunities under the ethos of ‘shared prosperity.’
Jiang Yi underscored the trust and shared goals between China and Pakistan, noting that Shenzhen’s innovation hub is ideal for strengthening industrial cooperation and promoting the flow of investments and advanced technologies.
Hiu David Chu of Precision Development (HK) Limited expressed optimism about Pakistan as a promising destination for industrial cooperation and renewable energy initiatives, envisioning a solid foundation for bilateral economic relations.
Salahuddin Hanif, Secretary General of PCJCCI, described the initiative as a new phase in Pakistan-China business collaboration, highlighting a shift towards dynamic business-to-business engagement.
The ceremony concluded with the exchange of mementos and a mutual reaffirmation of commitment to long-term economic connectivity and technological advancement within the framework of the China-Pakistan Economic Corridor (CPEC).