Pakistan minister demands closer ties with Hong Kong for economic growth

In recent discussions held at the Asian Financial Forum in Hong Kong, Finance Minister Muhammad Aurangzeb of Pakistan focused on the potential for his country's firms to engage in joint ventures and listing opportunities in the local stock market. His visit, which lasted two days, intended to foster closer collaboration between Hong Kong and Pakistan. During his meetings, Aurangzeb sought to highlight the prospects of secondary listings on the Hong Kong Stock Exchange, identifying it as an appealing alternative to the London Stock Exchange, which has been favored by Pakistani firms in the past. Aurangzeb pointed out that many local companies remain unaware of Hong Kong’s capabilities and reputation for international capital raising. He correctly noted that it is essential for Hong Kong to enhance its visibility in this regard to attract more Pakistani businesses, which traditionally lean towards London for such listings. By promoting Hong Kong’s advantages, the finance minister believes it could serve as a vital destination for Pakistani firms seeking to raise capital and establish a stronger international presence. Moreover, he indicated that a delegation from Hong Kong to Pakistan could lay the groundwork for identifying further areas of cooperation and partnership. This initiative highlights a broader goal of enhancing economic ties between Pakistan and the bustling financial hub in Asia. The overarching aim is to not only facilitate investment opportunities flowing into Pakistan but also to enable outward investment from Pakistani businesses, establishing a mutually beneficial relationship between the two regions. The ongoing discourse between the two regions demonstrates a commitment to fostering economic collaboration and can potentially transform investment dynamics in both markets, creating a win-win scenario. As Pakistani companies explore new avenues for growth and international engagement, having supportive frameworks in Hong Kong could prove critical in light of their growth aspirations for the future.