Pakistan, China sign MoUs to boost B2B collaboration

Pakistan and China have signed numerous Memorandum of Understanding and Joint Ventures worth 8.5 billion dollars to enhance B2B cooperation in diverse areas, including agriculture, industry, health, trade, mining and minerals.

Addressing the signing ceremony in Beijing on Thursday, Prime Minister Shehbaz Sharif called it the long march of economic development between the two countries. He said this long march will commence from Beijing and conclude in Islamabad.

The Prime Minister said this long march will convert Pakistan into a country where investment of billions of dollars, providing jobs to millions of people and strengthening economy.

He expressed the resolve to work tirelessly until this long march of economic development reaches its destination.

The Prime Minister said today, we are going to launch CPEC 2.0, comprising B2B investments in agriculture.  He said agriculture is the backbone of Pakistan’s economy as sixty percent of its economy relies on agriculture. He said China has really excelled in this sector. He encouraged Chinese companies to come forward and contribute their experience, expertise, and investments in Pakistan to boost this sector of agriculture and that will be a win-win situation. He said we can have back to back agreements and export those products which China imports from other countries.

Shehbaz Sharif said Information Technology and Artificial Intelligence is another area, where China is a world leader, where both countries can enhance bilateral cooperation. He added that mines and minerals is another very important and potential area of mutual cooperation.

The Prime Minister highlighted that Special Economic Zones are the pillars of CPEC 2.0 and Chinese industry can be shifted to Pakistan to benefit from a cheaper and skilled workforce. He said Chinese entrepreneurs can convert this opportunity into a great win-win equation between China and Pakistan.

Shehbaz Sharif assured that security of Chinese nationals in Pakistan is of paramount importance and all possible measures will be taken in this regard.

The Prime Minister also commended the vision and the leadership of Chinese President Xi Jinping for development and economic prosperity.