Mon. Sep 23rd, 2019

Enhancing trade and investment : NBP to collaborate with Chinese banks

Muhammad Imran

Beijing:Chinese financial institutions have expressed interest in working closely with National Bank of Pakistan (NBP) to enhance trade and investment between China and Pakistan

The National Bank of Pakistan (NBP) delegation headed by Syed Jamal Baquar, Senior Executive Vice President & Group Chief Corporate Banking Group, attended the Pakistan-China Trade and Investment Forum organized by Trade Development Authority of Pakistan (TDAP) in collaboration with the Embassy of Pakistan, Beijing, China.

During the forum, Jamal Baquar congratulated the visiting senior Pakistani dignitaries on the successful negotiation and signing of the FTA between Pakistan and China. He further reassured the participants that NBP, being the largest state-owned bank in Pakistan, would play its part and fully support Government of Pakistan’s initiatives in creating closer & stronger ties with China. He highlighted that NBP has already extended significant banking facilities to Pakistani & Chinese companies that are involved in CPEC projects in Pakistan.

Jamal Baquar also held meetings with senior officials from various financial institutions including Asian Infrastructure Investment Bank (AIIB) and China Everbright Bank (CEB). Both financial institutions expressed their interest in working closely with NBP to enhance trade and investment between China and Pakistan. He also held a meeting with the Director of the Financial Service Office of the Chaoyang District, which is the main financial hub of Beijing.  During the meeting, the Director extended his full cooperation on behalf of the local government of the District of Chaoyang, Beijing, in supporting NBP’s application for establishing a Branch in Beijing.

During another meeting with Jamal Baquar, the Liaoning Province, well known for its rich mineral resources and strong base in production of large scale machinery and equipment, has expressed its interest in working with NBP in various industrial sectors. Jamal Baquar met with the Director of Equipmentmen – which is an integrated platform working in partnership with Department of Commerce of Liaoning Province and Bank of China (BOC) to facilitate international trade business in China and abroad. Jamal Baquar stated that both sides should develop a common platform which would facilitate business-to-business engagement between small & medium enterprises from China and Pakistan. This would be done in collaboration with the Liaoning Province, Bank of China, and NBP and a Memorandum of Understanding in this regard is expected to be signed soon.

Please follow and like us:

Leave a Reply

Your email address will not be published. Required fields are marked *