ISLAMABAD: Finance Minister Muhammad Aurangzeb emphasized the importance of strengthening economic and diplomatic ties between Pakistan and Hong Kong during his meeting with John K C Lee, Chief Executive of the Hong Kong Special Administrative Region (SAR).

The meeting, which took place on Tuesday, focused on enhancing bilateral cooperation and fostering closer ties between the two regions. According to a statement from the Ministry of Finance, the two leaders engaged in a constructive dialogue covering a broad range of issues, including economic collaboration, trade relations, investment opportunities, and cultural exchanges. The discussions were aimed at identifying ways to promote mutual growth and prosperity through closer cooperation. Aurangzeb stressed the significance of boosting economic and diplomatic relations, pointing to various sectors where both regions could work together, including finance, technology, and tourism. He highlighted the shared values and interests that bind Pakistan and Hong Kong, reaffirming Pakistan's commitment to deepening these connections. In response, Chief Executive John K C Lee welcomed Aurangzeb's visit and expressed his support for increasing collaboration between Pakistan and Hong Kong. Lee acknowledged the importance of fostering strong partnerships to drive economic development, innovation, and cultural exchange. He emphasized that such cooperation would bring mutual benefits to both parties. The meeting underscored the shared commitment of both leaders to strengthen bilateral relations and explore meaningful engagement opportunities across different sectors. This dialogue reflects both regions' desire to deepen their economic ties and collaborate more closely on a wide range of fronts. Ahead of his meeting with Lee, Aurangzeb spoke to the South China Morning Post (SCMP) about his vision for enhancing economic relations with Hong Kong. He highlighted Pakistan's interest in pursuing joint ventures with Hong Kong companies and increasing secondary listings of Pakistani firms on the Hong Kong Stock Exchange (HKEX). Aurangzeb noted that such initiatives could serve as a win-win scenario, benefiting both Pakistan by attracting investment and Hong Kong by providing opportunities for outward investment.

"We are exploring joint ventures with local companies in Hong Kong, which could lead to both primary and secondary listings on the Hong Kong Stock Exchange," Aurangzeb said. "This would not only help bring investment back into Pakistan but also facilitate outward investment, benefiting both economies." Aurangzeb also noted that historically, Pakistani companies have preferred secondary listings on the London Stock Exchange. However, he expressed confidence that Hong Kong, with its strong international capital-raising platform, could offer significant untapped potential for Pakistani firms. "Hong Kong can certainly do more to promote itself as a prime destination for companies seeking to raise capital," he added. Minister Aurangzeb's visit to Hong Kong coincided with his participation in the 18th Asian Financial Forum (AFF), where he met with leaders and senior officials from prominent Asian financial institutions. The forum provided an opportunity for further discussions on financial collaboration, digital payments, and other key topics that could help bolster economic ties between Pakistan and Hong Kong. Additionally, during his visit, Aurangzeb engaged with members of the Pakistani community residing in Hong Kong, emphasizing the importance of their role in strengthening bilateral relations between the two regions. Overall, the visit marked a significant step towards building a stronger and more dynamic economic partnership between Pakistan and Hong Kong. Both leaders expressed their commitment to working together to explore new avenues for collaboration and ensure that their countries' economic relations continue to grow and thrive.