Latest news with #PCJCCI
Business Recorder
3 days ago
- Business
- Business Recorder
Seafood sector: performance highlighted
LAHORE: Pakistan's seafood sector continues to demonstrate resilience and growth, supported by the country's abundant marine resources and increasing international demand. Nazir Hussain, President Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) emphasized the sector's strong export performance and the growing importance of China as a destination for Pakistani seafood products. According to data released by the Pakistan Bureau of Statistics (PBS), Pakistan's seafood exports from July to May (2020-24) stood at $383.088 million; an increase from $373.382 million recorded during the same period in 2019-23. This reflects a year-on-year growth rate of approximately 2.6 percent, despite global economic challenges and fluctuating trade patterns. He added Pakistan is endowed with immense fishing potential, thanks to our 1,000-kilometer-long coastline, diverse aquatic species, and favourable climatic conditions. China has emerged as a pivotal partner in our seafood trade, accounting for a substantial portion of our exports. Brig. Mansoor Saeed Sheikh (retd), Senior Vice President PCJCCI said that China is one of the world's largest consumers and importers of seafood. According to the International Trade Centre (ITC), Pakistan exported around 29% of its total fish and aquatic products to China in 2019 alone. With increasing urbanization and growing consumer demand for high-protein diets, China's seafood imports have surged, creating significant opportunities for Pakistani exporters. Pakistan's geographical proximity, competitive pricing, and abundant supply position it as a natural trading partner for China's seafood sector. Zafar Iqbal, Vice President PCJCCI further highlighted the need for Pakistan's fisheries industry to move toward value-added processing, such as filleting, vacuum-packing, and quick freezing, to capture higher margins in export markets. By investing in modern processing and cold chain infrastructure, we can significantly enhance export revenues and create employment opportunities. There is also rising interest among Chinese investors to establish seafood processing facilities directly in Pakistan. This would reduce logistics costs and improve supply chain efficiency. He added that there is only one factory that has just started working on nitrogen-based quick-freezing ice. This technology helps in maintaining the quality. The product freezes fast. Salahuddin Hanif, Secretary General PCJCCI said that Pakistan's government has taken several steps to boost the fisheries sector, including the modernization of fishing harbours, training for fishermen, and subsidies for cold storage and transport. Additionally, the Marine Fisheries Department is working closely with exporters to ensure compliance with international quality standards. Our goal is to position Pakistan not just as a supplier of raw seafood, but as a competitive producer of high-quality, value-added marine products for international markets. Copyright Business Recorder, 2025
Business Recorder
14-05-2025
- Automotive
- Business Recorder
Daroghawala Industry Owner Association team meets PCJCCI
LAHORE: Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) welcomed a distinguished delegation from the Daroghawala Industry Owner Association, led by the Bani Group at PCJCCI Secretariat Tuesday. The visit was part of an initiative to explore joint opportunities in the rapidly evolving auto parts manufacturing sector and foster meaningful dialogue on enhancing bilateral trade and technology exchange. The delegation, which included key business leaders and manufacturers from Lahore's well-established Daroghawala industrial hub, engaged in comprehensive discussions with the PCJCCI leadership aimed at identifying concrete areas for partnership, investment, and knowledge-sharing with Chinese enterprises. During the session, Mian Muhammad Mansha, Chairman of the Bani Group and a veteran of the local manufacturing industry, shared his perspective on the current challenges and future potential of the sector and said that Pakistan's auto parts industry has come a long way, but to move to the next level, we need access to cutting-edge technology, modern manufacturing practices, and global supply chains. China has been a proven leader in industrial advancement, and we believe there is tremendous value in aligning our efforts. This visit is the first step in building bridges for mutual prosperity. Zafar Iqbal, Vice President of PCJCCI, expressed his strong support for localized industrial partnerships and emphasized the Chamber's proactive role in connecting Pakistani manufacturers with relevant Chinese partners. He said that PCJCCI exists to create value—both for Pakistani businesses seeking to grow and for Chinese investors looking for reliable partners. The visit by the Bani Group and Daroghawala Association is not just a courtesy call; it reflects a growing awareness that collaboration is the only way forward. We will extend every resource available to help these companies expand their footprint regionally and internationally. Mahmood Arabi, Commercial Ambassador, PCJCCI played an active role in the discussions, assuring the visiting delegation of complete facilitation in terms of networking with Chinese chambers, industry clusters, and government agencies. He highlighted that we should work together on; technology transfer and localization of Chinese manufacturing processes, skill development and training of local technicians through Chinese expertise, opportunities for joint ventures in auto parts assembly and distribution, export potential of Pakistani auto parts to Chinese markets and Participation in upcoming trade fairs and B2B forums organized by PCJCCI. Amir Ali, Executive Committee Member PCJCCI highlighted that sporadic business dealings don't create lasting impact. What we need are structured programs that bring together people, technology, and capital across borders. That's exactly what we are trying to build through PCJCCI. Salahuddin Hanif, Secretary General PCJCCI briefed the delegation regarding PCJCCI's various initiatives, including industrial matchmaking platforms, support for Chinese language learning for business communication, and assistance in navigating cross-border legal frameworks. Both sides agreed to form a working group to follow up on specific opportunities and facilitate future visits, including a potential business delegation to China later this year. A formal Memorandum of Understanding (MoU) is also under consideration to solidify long-term cooperation between the Bani Group, Daroghawala industry stakeholders, and PCJCCI. This visit marks a key milestone in PCJCCI's ongoing mission to empower local industry by connecting it with China's massive industrial ecosystem. Copyright Business Recorder, 2025
Business Recorder
08-05-2025
- Business
- Business Recorder
‘US dollar dominance being fundamentally challenged'
LAHORE: In a compelling analysis of the rapidly evolving global financial landscape, Zafar Iqbal, Vice President of the Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) stated that the long-standing dominance of the US dollar in international trade is being fundamentally challenged. He attributed this shift to the fast-paced development of digital currency infrastructure, led by China's digital yuan and its cutting-edge Cross-Border Interbank Payment System (CIPS 2.0). According to Iqbal, this innovation signals 'a new financial era characterized by speed, transparency, and a multipolar currency order.' Addressing a strategic roundtable discussion at the PCJCCI Secretariat, he highlighted the landmark execution of CIPS 2.0's first international transaction — a 120 million yuan payment for auto parts, completed in just 7.2 seconds from Shenzhen to Kuala Lumpur. This real-time transaction bypassed traditional banking lags, which typically take up to three business days via the SWIFT system. PCJCCI vice president said that this was not just a quick transfer but it was a financial breakthrough. It marked the rise of a new infrastructure that has the potential to redefine how global economies conduct trade, settle payments, and foster growth. He noted that the expansion of China's digital financial systems represents a transformative shift, challenging traditional frameworks historically controlled by Western powers. For emerging economies, especially those in the Global South, this shift offers an opportunity to reduce dependence on dollar-dominated systems and engage in trade on more equitable and transparent terms. Zafar Iqbal said that this isn't merely about faster payments, it's a systemic shift in how global settlements function cutting costs, boosting trust, and offering developing economies like Pakistan the chance to stand on equal financial footing with the world's major players. He also highlighted three transformative advantages offered by CIPS 2.0 and the digital yuan: Cost Annihilation: Traditional cross-border payments via SWIFT incur high transaction and intermediary fees. With CIPS 2.0, fees are negligible—often less than a dollar—allowing massive savings across global trade. Technological Supremacy: Digital yuan transactions can operate offline and leverage smart contracts to auto-trigger settlements, vastly improving efficiency and eliminating fraud-prone paperwork. Security Innovation: CIPS 2.0 uses blockchain-backed transparency and AI-powered risk monitoring to prevent money laundering in real-time, outpacing legacy systems that rely heavily on delayed manual oversight. He explained how these features not only improve financial reliability but also open up a new era of digital trade—where programmable money, instant settlements, and fraud-proof systems are the standard, not the exception. He warned that countries like Pakistan must not remain passive observers to this transformation. Instead, they should align with this rising ecosystem to unlock new trade opportunities, improve economic resilience, and modernize their financial architecture. 'Digital yuan adoption is expanding exponentially,' he added. 'Pakistan must now act strategically—by integrating with these new rails of commerce, we can future-proof our trade and financial sectors, enhance regional partnerships, and reduce our vulnerability to dollar liquidity shocks.' Copyright Business Recorder, 2025
Business Recorder
05-05-2025
- Business
- Business Recorder
PCJCCI welcomes high-profile Chinese business team's visit
LAHORE: In a significant development for Pakistan-China economic relations, the Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) welcomed a high-profile Chinese business delegation comprising senior representatives from over ten influential companies and institutions. The visit aimed to explore new avenues for collaboration across critical sectors including renewable energy, advanced manufacturing, industrial technology, healthcare, aerospace, real estate development, and policy innovation. The delegation, led by David Zhu, Head of the Chinese Delegation, featured notable figures such as Musar Yang of the All-China Federation of Industry and Commerce (ACFIC), and representatives from the Chamber of Commerce for High Technology Equipment Industry, Beijing Hangxing Transmission Technology Co, Ltd, and other forward-looking enterprises. Nazir Hussain, President of PCJCCI, and Zafar Iqbal, Vice President of PCJCCI, extended a warm welcome and facilitated a full-day programme of business dialogues, sectoral briefings, and B2B networking sessions. The event served as a critical platform for building trust, exchanging ideas, and identifying mutually beneficial partnerships. Brig Mansoor Saeed Sheikh (Retd) Senior Vice President PCJCCI emphasized on the importance of technology transfer as a key pillar of bilateral cooperation. China, with its global leadership in digital infrastructure, AI, green technology, and smart manufacturing, expressed willingness to share expertise and facilitate joint ventures in Pakistan. 'We envision Pakistan not only as a strategic partner but also as a hub for industrial growth and innovation,' said David Zhu. 'Through cooperative R&D, localized production, and knowledge exchange, we can elevate the capabilities of both countries and make significant contributions to the regional economy.' Nazir Hussain added, 'Pakistan offers the perfect environment for technology localization. With China's technical depth and our strategic location, we can build industries of the future from solar technology and electric vehicles to AI-powered logistics and e-commerce.' An important highlight of the meeting was China's invitation for Pakistani businesses to showcase their products in China's extensive wholesale market network, where participation is offered free of cost. These markets, supported by government-led platforms, allow international sellers to access millions of Chinese consumers and buyers without incurring the typical trade entry barriers. 'This is an unmatched opportunity for Pakistani SMEs, exporters, and manufacturers,' noted Musar Yang. 'We want to see more Made-in-Pakistan products in Chinese markets, and we're here to make that happen.' PCJCCI leadership praised this initiative as a step toward trade democratization and committed to helping local businesses register and prepare to participate in these international wholesale trade hubs. Both parties acknowledged the need for structural reforms and policy alignment to fully unlock the potential of Pakistan-China economic cooperation. Key recommendations included: Creating sector-specific working groups for renewable energy, ICT, and health tech, Simplifying cross-border regulations and customs procedures for smoother trade, establishing a joint innovation fund to support startups and co-develop technologies, setting up a bilateral business advisory council to inform future policy directions. The delegation expressed strong interest in collaborating with PCJCCI to draft reform proposals and initiate pilot programs in selected industrial zones under the CPEC framework. Zafar Iqbal, Vice President PCJCCI said that this is not just a visit it is the beginning of a new era of bilateral cooperation, together, we can foster innovation, improve trade balance, and empower our business communities with the tools they need to thrive. Copyright Business Recorder, 2025
Express Tribune
24-04-2025
- Business
- Express Tribune
Scottish expert proposes 'Golden Triangle'
Listen to article Dr Alaa Garad, a globally acclaimed expert in quality and organisational learning, has underscored the need for taking an ambitious and transformative initiative titled "Golden Triangle" – a trilateral partnership framework aimed at linking Pakistan, China and Scotland. The vision behind this initiative is to create a synergistic alliance that promotes cross-border collaboration in education, cultural exchange, innovation and applied research. Garad emphasised the alliance's potential to act as a bridge between the East and the West while drawing on the strength of each nation to foster sustainable progress and innovation-driven development. The Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) hosted Professor Garad, Pro-Vice Chancellor of Al-Maktoum College of Higher Education, Scotland, during his visit to Pakistan. The meeting took place at the PCJCCI Secretariat that covered collaboration, forward-thinking dialogue and mutual interest in long-term strategic partnerships. Garad underlined the role Al-Maktoum College of Higher Education could play in the collaboration by offering its expertise in delivering quality education in Islamic economics, international relations and leadership studies. He also expressed interest in facilitating delegations, academic conferences and cultural exhibitions that could help strengthen the socio-economic fabric of partner nations. Speaking on the occasion, PCJCCI Secretary General Salahuddin Hanif stressed the importance of finding ways to formalise academic and cultural linkages among institutions in the three countries. They explored opportunities for joint academic programmes, research initiatives, faculty exchange, skill development workshops and innovation incubators, particularly in areas such as emerging technologies, entrepreneurship and sustainable development. PCJCCI Commercial Ambassador Imtiaz Mehmood shared insights and offered support for the trilateral initiative. He highlighted the importance of commercial diplomacy in accelerating international educational ties and emphasised the role of workforce up-skilling and public-private partnerships in achieving inclusive growth. PCJCCI Vice President Zafar Iqbal reaffirmed the chamber's commitment to becoming a strategic enabler in the visionary partnership. "We believe this initiative holds immense promise for building a future of shared knowledge, intercultural harmony and technological advancement. PCJCCI is ready to serve as a platform to convene academic leaders, policymakers and business communities to translate this vision into actionable milestones," he said.
