KARACHI: Prime Minister Shahid Khaqan Abbasi along with other high ranking Chinese and Pakistani government officials witnessed signing ceremony of a Memorandum of Understanding (MoU) between Pakistan Stock Exchange (PSX) and China Overseas Ports Holding Company Pakistan (COPHS).
The PSX is the national securities exchange of Pakistan, whereas, the COPHS is an emerging and fast developing Chinese based multinational organisation which provides expert marine services, container terminal management and maintenance of port facility services.
COPHS works in Pakistan with an aim to develop the strategically located port of Gwadar into an economic hub of Pakistan that will cater to all types of international commercial activities generated from one business to another irrespective of quantity, quantum and magnitude.
The primary purpose of the MoU is to ensure that PSX will make its best endeavours to help and facilitate the investors, businesses and companies in the Gwadar Free Trade Zone so that they can raise funds from the exchange.
The COPHC will extend help to PSX in conducting due diligence on the investors and businesses in the Gwadar Free Zone applying to PSX for listing of equity and debt securities.
Through the MoU, both the companies have mutually agreed to cooperate for listing of equity and debt securities at PSX in response to strategic national priorities of People’s Republic of China and Islamic Republic of Pakistan with respect to “One Belt – One Road” initiative in general and “China – Pakistan Economic Corridor (CPEC)” initiative in particular.