Digital shift powering modern commerce: CEO PFC Mian Kashif Ashfaq

LAHORE, September 6 (APP): Chief Executive Officer of the Pakistan Furniture Council (PFC) Mian Kashif Ashfaq, Tamgha-i-Imtiaz, said on Sunday that the digital shift was powering modern commerce, while greater cooperation in digital trade had emerged as a major opportunity to promote economic integration and shared prosperity across the Asia-Pacific region.

Chairing a meeting of the PFC Board of Directors here, he said the digital economies of Asia-Pacific countries were highly complementary, creating significant opportunities for coordinated development.

Mian Kashif said digital trade was significantly lowering barriers to international trade participation, enabling more developing economies as well as small and micro enterprises to participate in international trade and integrate into global value chains through China’s digital trade platforms.

He said greater inclusiveness could help address regional development disparities and promote inclusive and sustainable development. Asia-Pacific economies should build regional consensus and continue reducing barriers to establish a more open, inclusive, balanced and mutually beneficial digital trade governance system, he added.

He said Pakistan could benefit from this rapid development by strengthening cooperation with regional countries, particularly China, which he described as a driving force in the region.

He noted that the Asia-Pacific region had developed a multilayered and broad-based digital trade cooperation system combining institutional foundations with market advantages, thereby strengthening the basis for regional digital economic and trade cooperation.

Various regional and bilateral trade agreements, he said, were also contributing to the development and improvement of digital economy and trade rules.

Mian Kashif said the Asia-Pacific Economic Cooperation (APEC) mechanism continued to advance regional digital connectivity, while the Digital Economy Partnership Agreement (DEPA) focused on high-standard digital economy and trade rules, providing important foundations for cooperation in the Asia-Pacific digital sector.