Pakistan, China ink agreements worth over $7 billion

BEIJING: More than $7 billion worth of agreements and memorandums of understanding (MoUs) were signed between Pakistani and Chinese companies during Prime Minister Shehbaz Sharif’s official visit to China, aimed at strengthening bilateral investment and economic cooperation.

Addressing the Pakistan–China Business-to-Business Investment Conference in Hangzhou, the prime minister invited Chinese investors to expand investment in Pakistan across sectors, including agriculture, information technology, special economic zones, mining, and minerals.

Shehbaz Sharif said Pakistan’s priority is investment, technology transfer, expertise, and joint development rather than dependence on loans and aid. He emphasized the need to transform signed MoUs into operational projects.

The prime minister also encouraged Chinese companies to relocate industries to Pakistan and assured investors of world-class facilities, one-window operations, and long-term leased land in the Special Economic Zone established in Karachi.

According to the prime minister, more than 200 MoUs worth over $20 billion have been signed in five Pakistan–China business-to-business conferences so far, while around 30 percent have already been converted into operational agreements.