In today’s dynamic global landscape, the supply chain is undergoing continuous digital transformation aimed at fostering innovation and sustainability. National Bank of Pakistan (NBP) Beijing Office Chief Representative Shaikh Muhammad Shariq noted that this evolving trend places a shared responsibility on both Pakistan and China to contribute to this transformation.
Speaking at a panel discussion during the 3rd China International Supply Chain Expo, Shariq highlighted that a key component of strengthening supply chains is the provision of fully localized financial services. These services, he explained, are essential in minimizing disputes between traders and are equally beneficial for major corporations and emerging startups.
He further stressed that the global supply chain should adopt a diversified development path. This approach, according to Shariq, is vital not only for industrial powerhouses like China but also for all Belt and Road Initiative (BRI) countries, particularly Pakistan, which is a central partner in the joint development of the China-Pakistan Economic Corridor (CPEC).
Shariq underscored the importance of improving financing systems, stating that an optimized financial mechanism would ensure smoother capital flows and reduce dependency on a single financing route. This, in turn, would help countries explore more effective and flexible financing options.
Focusing on China-Pakistan financial cooperation, Shariq highlighted NBP’s long-standing presence in China. Since opening a representative office in Beijing in 1981, the bank has facilitated Chinese businesses in various sectors looking to invest in Pakistan.
He also emphasized that over the years, policymakers in both nations have built strong institutional ties that have simplified financial procedures. These advancements have enabled NBP to offer robust support to enterprises facing financial and liquidity challenges amid a complex global environment. Ultimately, Shariq concluded, a stable and efficient supply chain ecosystem is key to enhancing cross-border collaboration between Pakistan and China.
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