KARACHI: Finance Minister Muhammad Aurangzeb has said that Pakistan is looking to explore more joint ventures with Hong Kong and secondary listings for its firms in the city, Dawn.com reported on Tuesday.

The minister made these remarks in an exclusive interview with the South China Morning Post on Monday before he met with Hong Kong Special Administrative Region (SAR) Chief Executive John K.C. Lee on Tuesday during a two-day visit to attend the Asian Financial Forum 2025.

According to the Associated Press of Pakistan, Mr Aurangzeb and Mr Lee emphasised the importance of strengthening economic and diplomatic relations between the two countries during the meeting on Tuesday.

Mr Lee highlighted the potential for increased cooperation in various sectors, including finance, technology, and tourism.

HK administrator highlights areas for strengthening economic ties

He underlined the shared values and interests that bind the two regions and expressed Pakistan’s commitment to deepening these ties further.

Both leaders engaged in constructive dialogue on a range of topics, including economic collaboration, trade relations, investment opportunities, and cultural exchanges between the two regions.

The statement added that the discussion aimed to foster closer ties and explore avenues for mutual growth and prosperity.

On the occasion, John K.C. Lee welcomed Aurangzeb’s visit and echoed the sentiment of enhancing collaboration between Pakistan and Hong Kong.

He acknowledged the significance of fostering strong partnerships to drive economic development, innovation, and cultural exchange, emphasising the mutual benefits of such cooperation.

The meeting exemplified the commitment of both countries to stren­gthening bilateral ties and expl­oring opportunities for meaningful engagement across various sectors.

Pakistan’s Ambassador to Beijing, Khaleel Hashmi, and Consul General to Hong Kong, Riaz Ahmed Shaikh, were also present.

Earlier in the interview, Mr Aurangzeb highlighted that he would express his interest to the city leader about the possibility of having a delegation from Hong Kong visit Pakistan soon to “identify areas for closer collaboration”.

“If there is an opportunity for companies out of Pakistan, as joint ventures with local companies, to come in and do primary and secondary listings in the Hong Kong stock exchange, for instance, I think it can be a real win-win, not only in terms of the investment that we expect back in Pakistan but also outward investment,” the minister said.

According to the report, Mr Aurangzeb said that Pakistani companies and banks had traditionally opted for secondary listings on the London Stock Exchange, noting that local firms had not been aware of Hong Kong’s reputation for international capital raising.

“I would say that Hong Kong can certainly do more to promote itself as a destination for companies to raise capital,” he added.

In the interview, Mr Aurangzeb said he hoped to encourage Fina­ncial Secretary Paul Chan Mo-po and Mr Lee to start a dialogue and send delegations to Pakistan to learn more about sectors that could benefit Hong Kong.

Security top priority

Furthermore, Mr Aurangzeb stressed security remained a “big priority” for his country and he wanted to assure investors, including those from mainland China and Hong Kong, that the issue was being addressed at the “highest level”.

Security has remained a concern for Chinese investors. A bombing in October last year near Karachi’s airport, which killed two Chinese engineers returning to work on a project after a holiday in Thailand, was the latest in a string of high-profile atta­cks on Beijing’s interests in Pakistan.

“My view would be ‘come and have a look’ and see the actual situation on the ground,” the finance minister added.

“We are having international conferences, we have people visiting us, and have several dignitaries visiting us from various countries. We have the president of Indonesia arriving in Pakistan for a three-day visit with his whole investment team towards the end of the month.”

He added: “I do think there is a security issue, but not to the extent that you do not feel safe to travel to Pakistan.”

Published in Dawn, January 15th, 2025