Bangkok:Minister for Finance, Senator Muhammad Aurangzeb, met with the Chief Executive Officer of the International Islamic Trade Finance Corporation (ITFC), Engineer Adeeb Y. Al Aama, during the World Bank Group-IMF Annual Meetings in Thailand. They discussed financing cooperation and trade development, with a focus on Pakistan's economic progress and the alignment of borrowing costs with improved market conditions. The discussions also included exploring adjustments to pricing and financing volumes.

According to Radio Pakistan, efforts were outlined by the Finance Minister to replace costly short-term borrowing with longer-maturity financing without increasing external debt. The discussions covered digital product passports to support textile exports to the European Union and single-window connectivity to facilitate ASEAN trade, reaffirming both sides' commitment to strengthening Pakistan's export competitiveness.

In another meeting, Finance Minister Aurangzeb met with Alibaba International Digital Commerce leadership to discuss cooperation on Pakistan's digital economy. The talks focused on digital payments, a cashless economy, and transparent delivery of social protection payments. The Minister appreciated Alibaba's support for SMEs and exports through Daraz and Alibaba.com, and invited proposals to rationalize e-commerce taxation.

Further discussions included accelerating the Pakistan Single Window e-commerce platform and enhancing cross-border payment tracking. The cooperation extended to cloud infrastructure, artificial intelligence, and improving Pakistan Post's sorting systems. The potential for expanding agricultural exports to China through Alibaba's network was also explored.

The Finance Minister also met with UN Deputy Secretary-General Ms. Amina Mohammed to review development financing, debt, and climate resilience. Discussions emphasized strengthening the Borrowers' Forum, ensuring adequate financing for Sustainable Development Goals, and addressing climate financing gaps. The Minister highlighted the importance of local currency financing and thanked Ms. Amina for acknowledging Pakistan's mediation efforts in the recent US-Iran crisis.