Prime Minister Muhammad Shehbaz Sharif has stated that the unprecedented growth in business-to-business engagement between the private sectors of Pakistan and China signifies the beginning of a new era in economic partnership between the two nations. He made these remarks while chairing a review meeting to assess progress on decisions taken during the Pakistan-China Business-to-Business (B2B) Conference held during his recent visit to China.
Focus on Industrial, Agricultural, and Technological Cooperation
During the meeting, the Prime Minister emphasized that enhanced cooperation with China in industrial, agricultural, and technological sectors would boost Pakistan’s exports and create new employment opportunities. He directed relevant authorities to swiftly convert the Memorandums of Understanding (MoUs) signed during the Hangzhou B2B Conference into formal agreements and joint ventures.
Monthly Review Meetings Ordered
Shehbaz Sharif decided to personally chair monthly review meetings on the progress of the B2B conference outcomes. He also instructed that cooperation between the China Academy of Agricultural Sciences and the Pakistan Agricultural Research Council be implemented effectively. The Prime Minister noted that revolutionary changes could be brought to Pakistan’s agricultural sector through agricultural research, modern technology, and Pakistan-China joint ventures.
Details of the B2B Conference
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 informed that MoUs were signed in sectors including battery energy storage systems, artificial intelligence (AI), mobile phones, and handheld devices. Additionally, extensive cooperation agreements were made in fertilizers, seeds, modern irrigation equipment, fisheries, and food processing sectors. MoUs were also 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.
