Deals signed in Hangzhou cover IT, telecom, energy storage, and agriculture, aiming to boost bilateral investment and industrial cooperation.
Image Associated Press of Paksitan
Companies from Pakistan and China have signed agreements and memorandums of understanding (MoUs) worth more than $7 billion to expand cooperation across multiple sectors.
The agreements were signed during the Pakistan–China B2B Investment Conference held in Hangzhou, China, focusing on IT and telecom, battery energy storage systems (BESS), and agriculture.
Prime Minister Shehbaz Sharif attended the event and invited Chinese companies to invest in Pakistan, form joint ventures with local firms, and benefit from what he described as investor-friendly policies.
He said rising labour costs in China create an opportunity for industries to relocate to Pakistan, where production can be carried out through joint ventures and then exported to global markets.
The prime minister described this approach as a “win-win model” for both countries, highlighting potential cooperation in sectors such as textiles, leather, and manufacturing.
He also stressed the need to improve Pakistan’s agriculture sector through better seeds, modern farming techniques, and mechanisation to increase productivity and exports.
Shehbaz Sharif noted that China imports around $100 billion worth of agricultural products, while Pakistan’s share remains very small, and said stronger cooperation could help expand this share significantly.
He added that joint efforts could create jobs in rural areas, support small businesses, and increase value-added exports.
The prime minister said that MoUs worth billions of dollars were signed in Shenzhen and Hangzhou, but stressed that these agreements now need to be turned into practical investment projects.
