‘BRI states must adopt diversified supply chain’ | The Express Tribune

BEIJING:

In the current environment, the global supply chain has been continuously upgrading digitally, ie, achieving innovative and sustainable development, which is also a major responsibility that Pakistan and China should shoulder together, remarked National Bank of Pakistan (NBP) Beijing Office Chief Representative Shaikh Muhammad Shariq.

Speaking at a panel discussion on supply chain services held during the 3rd China International Supply Chain Expo, the chief representative pointed out that the key link is to provide complete localised financial services and reduce conflicts between traders, which is crucial for both large leading enterprises and small startups.

“The global supply chain must take a diversified path, not only for industrial powers like China, but also for all countries participating in the Belt and Road Initiative (BRI), and of course Pakistan, which is jointly developing CPEC (China-Pakistan Economic Corridor).”

Shariq emphasised, “The optimised financing mechanism will allow us to have smoother capital flow and reduce our reliance on a single path, helping us to seek better financing strategies.”

Talking specifically about financial links between China and Pakistan, Shariq elaborated on NBP’s efforts.

“In 1981, we entered the Chinese market and opened a representative office in Beijing. Since then, we have been helping Chinese companies in different fields that are interested in doing business in Pakistan.”

“From a deeper perspective, policymakers in China and Pakistan have established very deep connections to simplify all financial-related processes, assisting us to confidently provide comprehensive services in the current complex and changing international environment, solving financial problems and of course the most important liquidity problem for enterprises. In a nutshell, a very stable supply chain ecosystem allows better cross-border cooperation between our two countries.”