August 15, 2023, Kingdom of Tonga
AT Capital Group Limited (“AT Capital”), a globally leading fintech company that owns the international brand “ATFX”, has recently signed a landmark Memorandum of Understanding (“MOU”) in the Kingdom of Tonga with Pacific China Friendship Association (“PCFA”) and Tongan delegates, thereby forging a strategic alliance.
This MOU lays the groundwork for AT Capital to explore investments in, or the implementation of, a regional bank, designed to bolster the economies of Pacific Island nations. The focus of these initiatives is to enhance the performance of the regional financial sector and to provide support for development projects in the areas of investment, trade opportunities, and infrastructure. The role of the PCFA are to facilitate the AT Capital introduction to the Tonga market and thereby to the Pacific region.
This initiative marks an unparalleled stride in the Pacific’s financial industry, aiming to empower the principles of the Maritime Pearl Road, the southward maritime extension of the Belt and Road Initiative, and to leverage and mobilize the network and influence of the PCFA in enhancing the banking platform of Pacific countries, with the Kingdom of Tonga as the initial base.
It is expected that the collaboration will encourage investment orientations sensitive to Pacific cultures. The cooperation aims to become a major player in raising Pacific financial system standards to a higher level, allowing the convergence of common Pacific interest throughout the region, with a special focus in the areas of the Blue & Green economies, poverty alleviation, climate change mitigation strategies, the One Blue Pacific Principle and the 2050 Strategy for the Blue Pacific Continent, which emphasizes the unity and solidarity of Pacific islands nations.
Mr. Joe Li, Chairman of AT Capital, says, “We see enormous, untapped potentials in Tonga and other South Pacific countries. We believe that these activities will benefit a free and peaceful development of the Pacific region, while supporting a resilient Pacific of peace, harmony, security, social inclusion and prosperity for all.”
Dr. Hiria Ottino, President of PCFA, says, “We are beyond delighted to have forged an alliance with AT Capital. PCFA will provide its full support to the benefit of the people of Tonga and the South Pacific Island Countries; and will continue to be involved in supporting and contributing to the Pacific’s economic development in various industries, such as tourism, fisheries and agriculture. We believe this will foster greater cooperation and mutual understanding between PCFA and AT Capital, as well as contribute to the sustainable development of Tonga’s financial sector.“
AT Capital, a globally recognized, award-winning fintech broker, offering customers support in multi-languages and regulated in several territories with offices located in Europe, Asia, Latin America, the Middle-East and the Pacific.
PCFA is a non-political, non-government organization (NGO) founded in 2016 by The Princess Royal, Her Royal Highness Princess Salote Mafile’o Pilolevu Tuita of the Kingdom of Tonga. PCFA boasts 21 members, with a 2-tiered approach: firstly, recognizing and addressing common challenges and opportunities on a regional level, and secondly, tuning its focus to the unique priorities of each individual member country.
About AT Capital
AT Capital is a globally leading fintech company that owns the international brand “ATFX”, holding licenses in multiple countries including the UK’s FCA, Cyprus’ CySEC, UAE’s SCA and Australia’s ASIC. With offices in 15 regions worldwide, ATFX has spread its business across five continents. In addition to providing advanced online trading broker services, cutting-edge market analysis tools and innovative artificial intelligence financial platforms, ATFX also releases in-depth daily economic reports. It tracks global hotspots to help participants have the most updated and comprehensive information about market trends.
For further information on AT Capital, please visit: https://www.atfx.com