Islamabad (Web Desk): Prime Minister Shehbaz Sharif on Monday said that the rapid expansion in commercial linkages between the private sectors of Pakistan and China reflects the start of a strengthened and more dynamic phase in bilateral economic cooperation.
He stated that deeper collaboration with China in fields such as industry, agriculture, and technology would not only help raise Pakistan’s export capacity but would also open up new avenues for job creation within the country.
The prime minister presided over a detailed review session focused on evaluating the implementation status of various agreements and Memorandums of Understanding (MoUs) signed during the Pakistan-China Business-to-Business (B2B) conference held during his recent visit to China.
According to a statement issued by the PM Office Media Wing, he emphasized the importance of rapidly converting these MoUs into concrete agreements and operational joint ventures.
The meeting was attended by Federal Ministers Rana Tanveer Hussain, Ahsan Iqbal, Ahad Khan Cheema, and Shaza Fatima Khawaja, along with other senior officials from relevant departments.
During the session, the prime minister also resolved to personally lead monthly follow-up meetings to ensure continuous monitoring of progress on the outcomes of the B2B conference.
He further instructed authorities to ensure effective execution of cooperation between the China Academy of Agricultural Sciences and the Pakistan Agricultural Research Council (PARC), stressing that such collaboration, combined with modern agricultural innovation and joint investment initiatives, could significantly transform Pakistan’s agriculture sector.
Officials briefed the meeting that the B2B conference held in Hangzhou on May 24 brought together 123 Pakistani companies and 436 Chinese firms, resulting in the signing of 207 MoUs valued at around 7.54 billion US dollars.
These agreements span multiple strategic sectors, including battery energy storage systems, artificial intelligence, mobile phones, and handheld devices.
In addition, understandings were also reached in areas such as fertilizers, seeds, advanced irrigation technologies, fisheries, and food processing.
It was further noted that additional MoUs were signed to encourage joint investment in high-tech industries, particularly biotechnology and vaccine production.