Lahore, 20th August: A second session of the annual webinar on “Shared Economic Recovery” was held in collaboration with GREF and UMT with Iran yesterday.
According to reports of Baaghi TV, the conversational series of the session involved international experts in collaboration with Golden Ring Economic Forum and the University of Management and Technology, Lahore.
As reported by Baaghi TV earlier, the first GREF session by UMT was organized with China to improve the economic conditions between the two countries.
The interactive session was graced by:
1.Dr. Hassan Ali Gambari Mamom: Ex-President Sipah Bank Iran, Chair and Cheif
2.Mr. Abrar Ahemd: Vice-President GREF, Chairman of Pakistan Chemicals Manufacturing Association, Convenor Standing Committee for ECO FPCCI
3.Dr. Qandil Abbas: Assistant Professor School of Politics and IR, QAU, Islamabad
4.Amb. (R) Sanaullah
Golden Ring Economic Forum (GREF) was initiated in 2010. The basic idea is to share economic goals, create harmony, and device an action plan where member countries can take advantage of the knowledge and expertise attained by other member countries.
Initial members of this group are Russia, China, Pakistan, Iran, and Turkey. The idea is to create uniformity, ease of operation, and enhance cooperation in different sectors of the economy.
This will boost economic activities and the member countries will benefit when specific help will be rendered by the progressed member country.
The first right is for these initial 5 members to reap the benefits of unity. Later on, more members will be added to expand the scope for the region.
The GREF was initiated in 2010 and now on the parliamentarian level, three meeting and workshops have been organized in Islamabad, Tehran and Ankara the fourth is expected in Moscow or Beijing.
Committees have been formed to look into forming close working relationships in media as it is a very important segment, telecommunication, and energy sector. Most of all joint banking systems enabling ease of business transactions and transparency and most importantly anti-terrorism cooperation to ensure the safety and security of the general public and the business community.
Post-COVID US and international funding organizations like IMF and World bank are exploiting the situation and putting pressure on small and already burdened economies to gain undue advantages that need to be countered by countries in a better manner to avoid economical turmoil and breakdown.
Joint efforts would result in kick start economic activity in a planned and rapid fashion. Economic interests are joint and all countries can reap the result to prosperity if the true spirit of the initiative is kept intact and alive.
Agricultural and food requirements can be well addressed if close communication and capacity building is done with sound and easy financial solutions.
Iran faces a lot of trade issues due to sanctions on banks and the inability of establishing LCs. If a suitable financial solution is found the trade would benefit all across the region.
GREF aims to act as a bridge between policymakers and stakeholders by providing key insight and taking economic experts on board to initiate and coordinate joint research programs for strategic economic projects in member states.
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