BEIJING: Pakistan and China have signed agreements and memorandums of understanding (MoUs) worth more than $7 billion between companies of both countries during Prime Minister Shehbaz Sharif’s official visit to China.
According to an official statement, the agreements aim to promote cooperation, strengthen economic ties, and boost investment between Pakistani and Chinese enterprises across multiple sectors.
The signing ceremony marked a significant milestone in economic collaboration between the two long-standing partners, with both sides expressing commitment to further expanding trade and investment relations.
Officials said the agreements and MoUs cover a wide range of sectors, including agriculture, information technology, special economic zones, mining, and minerals development. The large-scale investment framework is expected to enhance industrial cooperation and support Pakistan’s economic development goals.
During the visit, Prime Minister Shehbaz Sharif invited Chinese investors and companies to increase their investment in Pakistan, highlighting opportunities in key sectors of the economy.
He specifically encouraged investment in agriculture, IT, special economic zones, and the exploration and development of mineral resources. The prime minister emphasized that Pakistan offers significant potential for foreign investment and welcomed deeper participation from Chinese firms.
Government officials stated that the agreements reflect growing confidence from Chinese investors in Pakistan’s economic policies and investment environment. They also noted that such partnerships are expected to create jobs, support infrastructure development, and strengthen industrial capacity in the country.
The development comes as part of broader efforts to deepen Pakistan-China economic cooperation under the framework of the China-Pakistan Economic Corridor (CPEC), which has already led to major infrastructure and energy projects in Pakistan over the past decade.
Both sides reiterated their commitment to advancing high-quality development under CPEC’s next phase, focusing more on industrial cooperation, technology transfer, and sustainable economic growth.
Analysts say the signing of such a large volume of agreements highlights the strategic importance of Pakistan-China economic relations, particularly at a time when Pakistan is seeking to attract foreign investment and stabilize its economy.
The visit of Prime Minister Shehbaz Sharif to China continues with high-level meetings, investor interactions, and participation in events celebrating the long-standing diplomatic partnership between the two countries.
