Pakistan Mercantile Exchange (PMEX), Pakistan's first and only multi-commodity futures exchange, signed Memorandum of Understanding (MoU) with Dalian Commodity Exchange (DCE), China at the PMEX Head Office in Karachi. A seven member delegation of DCE led by their Chairman visited PMEX for the signing ceremony. The objective of MOU is to seek cooperation in broader fields with emphasis on collaborations including market development, business cooperation, experience sharing, etc.
This is the fifth international collaboration for PMEX. In the past, MoU's have been signed with four exchanges namely; Borsa Istanbul, Izmir Commodity Exchange (ICE), Dubai Gold & Commodities Exchange (DGCX) and Iran Mercantile Exchange (IME). Commenting on the occasion, Ejaz Ali Shah, Managing Director of PMEX, said, "PMEX is pleased to sign an MoU with DCE. Pakistan-China bilateral ties are time tested and are expected to further consolidate with the commencement of work on China Pakistan Economic Corridor (CEPC), which is expected to be a game changer for the region and beyond.
PMEX strongly believes that the enhancement of transportation linkages and the development of other related infrastructure under the CPEC will pave the way for enhanced trade between the two countries. Signing of this MoU lays the groundwork for future cooperation between both the Exchanges to facilitate trade between the neighbouring counties."
Li Zhengqiang, Chairman of DCE, said "DCE hasalways attached high importance to international cooperation with foreign exchanges. As the 'One Belt and One Road' initiative progresses over the years, the all-weather strategic partnership between China and Pakistan has continued to deepen, with new achievements continuously made. PMEX offers a diverse range of domestic and international commodities and financial futures.
The signing of this MoU will facilitate both sides to explore more opportunities for business cooperation as well as create new channels for long-term cooperation. It will benefit the development of the financial markets of both countries, and add support to the national government's 'One Belt and One Road' initiative and DCE's internationalization strategy."-PR
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