Unprecedented growth in business links with china marks the beginning of a new era of economic partnership:PM

Islamabad: Prime Minister Muhammad Shehbaz Sharif has said that the unprecedented increase in business-to-business engagement between the private sectors of Pakistan and China marks the beginning of a new era in economic partnership between the two countries.

According to details, Prime Minister Shehbaz Sharif chaired a review meeting to assess progress on the decisions taken during the Pakistan-China Business-to-Business (B2B) Conference held during his recent visit to China.

Addressing the meeting, the Prime Minister said that enhanced industrial, agricultural, and technological cooperation with China would boost Pakistan’s exports and create new employment opportunities. He directed the relevant authorities to swiftly convert the Memorandums of Understanding (MoUs) signed during the Hangzhou B2B Conference into formal agreements and joint ventures.

During the meeting, Shehbaz Sharif decided to personally chair monthly review meetings on the progress of the B2B conference outcomes. He also directed that cooperation between the China Academy of Agricultural Sciences and the Pakistan Agricultural Research Council be implemented effectively.

The Prime Minister said that revolutionary changes could be brought to Pakistan’s agricultural sector through agricultural research, modern technology, and Pakistan-China joint ventures.

Participants were briefed that 123 Pakistani and 436 Chinese companies participated in the Pakistan-China B2B Conference held in Hangzhou on May 24. During the conference, 207 MoUs worth approximately $7.54 billion were signed.

The meeting was further informed that MoUs were signed in sectors including battery energy storage systems, artificial intelligence (AI), mobile phones, and handheld devices.

A briefing was also given on extensive cooperation agreements in fertilizers, seeds, modern irrigation equipment, fisheries, and food processing sectors.

Participants were informed that MoUs had also been signed for joint investment in advanced industrial sectors, including biotechnology and vaccine production.

The meeting was attended by Federal Ministers Rana Tanveer Hussain, Ahsan Iqbal, Ahad Khan Cheema, Shaza Fatima Khawaja, and other senior government officials.