Pakistani and Chinese companies have signed agreements and memorandums of understanding (MoUs) worth more than $7 billion to promote cooperation and boost investment across a wide range of sectors.
Prime Minister Muhammad Shehbaz Sharif invited Chinese investors to participate in and launch joint projects in agriculture, information technology, special economic zones, and mining and minerals. He stressed that Pakistan needs expertise and investment rather than loans and aid, and urged that the multibillion-dollar MoUs be converted into concrete agreements without delay.
The government will offer attractive facilities to investors in the Karachi Special Economic Zone. With the adoption of modern agricultural methods and mechanized farming, Pakistan could export up to $10 billion in agricultural products to China. Pakistan also possesses large mineral reserves that present significant investment opportunities.
He praised President Xi Jinping for transforming China into a world-class economic and military power, and said Pakistan will soon be a close partner in the region’s development. He expressed these views while addressing the Pakistan‑China Business‑to‑Business Investment Conference in Hangzhou.
Later, the Prime Minister held meetings with senior officials of major Chinese companies, underscoring the importance of direct business-to-business cooperation. The Hangzhou conference, held on Sunday, focused on Information Technology and Telecom, Battery Energy Storage Systems, and Agriculture, and was attended by Governor of Zhejiang Province Liu Ji, Deputy Prime Minister and Foreign Minister Ishaq Dar, Federal Minister for Commerce Jam Kamal Khan, Federal Minister for Planning and Development Ahsan Iqbal, among others.
In the Business-to-Business Conference held in Hangzhou, and attended by Prime Minister Shahbaz Sharif and Zhejiang Province Governor Liu Ji, a landmark agreement worth $1.12 billion was signed between Haolu Engineering and Technology Company Limited and Fuji Fertilizer for the establishment and expansion of fertilizer production facilities.
Additionally, Pakistan and China’s Alibaba Group signed a series of memorandums of understanding and cooperation agreements covering a wide range of sectors, including information technology, the digital economy, artificial intelligence, public health and telemedicine, fintech and digital payments, small and medium enterprise development, and agriculture.
Participants noted that more than 200 MoUs — collectively valued at over $20 billion — have been inked across the five Business-to-Business Conferences held between Pakistan and China to date. Addressing the conference, the Prime Minister congratulated the organizers on the successful B2B Investment Conference and highlighted that Pakistan and China are celebrating 75 years of close friendship. He recalled that this third B2B conference began in Shenzhen, proceeded to Beijing and is now being hosted in Hangzhou, and emphasized that memorandums worth billions of dollars have been signed to deepen bilateral economic ties.