Pakistan aspires to increase the use of Chinese currency (RMB) in its tradeand investment. These sentiments were expressed by the Minister forFinance, Dr. Shamsad Akhtar, during the inaugural ceremony of a bankestablished in Islamabad for the clearance of Chinese currency (RMB)transactions.
The Federal Minister for Finance highlighted that China has beenPakistan’s largest trading partner and a major source of investment formany years. In this ceremony, Pakistan’s Ambassador to China, JiangZaidong, and other dignitaries were present.
The establishment of an RMB clearing bank in Pakistan is expected tofacilitate cross-border trade and cooperation between Pakistan and China,benefiting various sectors and businesses.
This initiative is seen as a significant step toward strengtheningfinancial ties between the two countries. During his address, the ChineseAmbassador emphasized the importance of strong financial support from bothsides’ financial institutions to enhance their strategic cooperation underthe Belt and Road Initiative.
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The opening of the RMB clearing bank is viewed as a crucial financialsupport mechanism for furthering this collaboration.