Risha Mohyeddin (HBL) Visit to China June 2024: A Breakthrough towards Pakistan-China Economic Development to the Next Level
In a significant stride towards bolstering Pakistan-China economic cooperation, Risha Mohyeddin, the Global Treasurer of HBL Treasury and Global Markets, led a delegation to China in June 2024. This visit marked the commencement of enhanced bilateral relations, particularly in the financial sector.
The journey featured a pivotal seminar held on June 4, 2024, focusing on ‘Pakistan’s Macroeconomic Policy and Market Opportunities’. Organized with the collaborative efforts of Habib Bank Limited (HBL), Qingdao Rural and Commercial Bank, and the Shanghai Cooperation Organization Demonstration Zone, the event drew support from the Qingdao Bureau of Commerce and Qingdao Municipal Party Committee Financial Office. The seminar was a confluence of critical financial and governmental entities such as Cheng Wei, HBL’s Country Manager in China, Yu Hao and Yang Weiwei, Deputy Directors of Qingdao’s municipal finance bureaus, and Lin Changhua, Deputy Director of the Shanghai Cooperation Organization Demonstration Zone, among others. This diverse gathering saw participation from over 70 enterprises, all keen on exploring the burgeoning economic opportunities between the two nations.
Mohyeddin’s address highlighted the nuances of Pakistan’s economic landscape, spotlighting the vital sectors of agriculture, energy, and information technology. By providing an in-depth analysis of the country’s economic status, industrial policy, and market demands, Mohyeddin sketched a vast canvas of potential for collaborative ventures and mutual growth. His emphasis on deepening bilateral financial relationships underscored the strategic importance of initiatives like the China-Pakistan Economic Corridor (CPEC) for enhancing South Asian regional trade and project financing. Furthermore, the seminar underscored the emphasis on leveraging agricultural inclusion, financing, and services for poverty alleviation and support.
Another significant aspect of the seminar was the opportunity for attendees to engage in detailed discussions with Mohyeddin and Cheng Wei on critical issues such as cross-border RMB settlement and foreign exchange transactions. This interaction highlighted the event’s role in fostering closer business linkages and understanding between participating enterprises from both countries.
The visit by Risha Mohyeddin and the subsequent seminar acted as catalysts, infusing new energy into the Pakistan-China financial collaboration. Operating under the umbrella of the ‘Belt and Road’ initiative, both HBL and Qingdao Rural and Commercial Bank have pledged to deepen their pragmatic cooperation. By exploring innovative ideas and cooperative pathways, both institutions are committed to navigating the current international landscape for mutual benefit.
Looking forward, HBL’s commitment to leveraging its professional expertise in financial services remains unwavering. The bank is poised to contribute significantly to the ongoing promotion of economic and trade cooperation between Pakistan and China. This visit not only symbolizes a breakthrough in bilateral relations but also sets a robust foundation for taking the Pakistan-China economic development to unprecedented levels.
