FPCCI chief calls for using RMB as trading currency between Pakistan,China.

KARACHI -- President Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Engr. Daroo Khan Achakzai on Saturday underscored the need to use RMB (Renminbi is the currency of China), as trading currency between Pakistan and China and said that Currency Swap would be mutually beneficial and go a long way in strengthening economic ties between the two neighboring countries.

He said this in his welcome address to CEO Industrial and Commercial Bank China (ICBC) Bank Airdy along with his team who visited FPCCI here, said a statement.

The CEO ICBC Pakistan held a meeting with FPCCI members and apprised them of the benefits of under taking trade in RMB currency.

Talking to them, Engineer Daroo Khan said "China is a trillion dollar economy, trillion dollar exports and imports, surplus in current account,high and growing per capita income with low level of inflation, unemployment and certainly lower interest rate".

The FPCCI President also appreciated the services rendered by ICBC in the backdrop of capital intensive mega investment projects of CPEC and China Pakistan Free trade Agreement (CPFTA) in implementing and facilitating bilateral trade in RMB.

CEO of ICBC Bank Airdy informed that RMB was now approaching its final frontiers, full convertibility and transformation into a "normal" currency used by...