Pakistan, China ink MoUs worth $250m

Both countries agree to foster joint ventures in fruits, vegetables processing sectors

BEIJING:

Pakistani and Chinese companies on Tuesday signed 13 memorandums of understanding (MoUs) worth $250 million on fostering joint ventures and investment partnerships in the animal fodder and fruits and vegetables processing sectors.

Pakistan Ambassador to China, Khalil Hashmi witnessed the signing ceremony held at the conclusion of a day-long B2B Matchmaking Meeting on Animal Fodder and Fruits and Vegetable.

Pakistan Embassy Beijing, in collaboration with the Board of Investment (BOI), successfully hosted the third in a series of sector-specific B2B matchmaking meetings.

The event focused on fostering joint ventures and investment partnerships in the animal fodder and fruits and vegetables processing sectors. The event featured insightful presentations, individual B2B meetings, networking opportunities and the signing of 13 Memorandums of Understanding (MoUs) valued at approximately $250 million.

Over 150 productive B2B meetings, including 30 virtual engagements, took place, providing a robust platform for Pakistani and Chinese companies to explore partnerships and expand trade in these priority sectors.

In his remarks, Ambassador Khalil Hashmi highlighted the strong trade ties between Pakistan and China and emphasized the strategic importance of agriculture and food processing sectors.

He noted that the event underscored Pakistan's ongoing efforts to bolster its trade relationship with China, focusing on creating opportunities for direct connections and long-term partnerships.

Ambassador Hashmi also underscored Pakistan's position as a leading producer of a variety of fruits, vegetables and animal products, pointing out the country's vast agricultural resources.