- Pakistani companies Sign Cooperation Deal with Chinese Partner Firms, Securing $64 Million in Investments.
- The signing of cooperation deal took place during Pakistan-China B2B Investment Meeting in Fisheries held in Qingdao, Shandong Province of China
- Some 45 Chinese and 27 twenty-eight Pakistani companies participating in the business and investment event
- The initiative of Pakistan-China B2B Investment Meeting in Fisheries is in response to the Prime Minister’s call for advancing economic cooperation and deepening engagement in Pakistan’s blue economy
By: Muhammad Arif, Editor NSN.Asia
Beijing: In alignment with Prime Minister Shehbaz Sharif’s directive to advance Pakistan-China economic ties, the Board of Investment (BoI) organized the first Pakistan-China B2B Investment Meeting in Fisheries on 29 October 2024, in Qingdao, Shandong Province of China.
This milestone event underscores the Prime Minister’s commitment, demonstrated during his visit to China in June 2024, to strengthen trade and investment linkages, and solidify Pakistan’s strategic partnership with China.
This meeting marks the first in a series of sector-specific initiatives aimed at facilitating meaningful collaborations between businesses from both nations, harnessing mutual strengths, and exploring synergies across sectors critical to sustainable growth.
The event, featuring the participation of forty-five Chinese and twenty-eight Pakistani companies, reflects a robust response to the Prime Minister’s call for advancing economic cooperation and deepening engagement in Pakistan’s blue economy.
The event, a testament to the enduring Pakistan-China All-Weather Cooperative Partnership, aims to unlock the vast potential of Pakistan’s marine resources and strategic location to drive sustainable development and generate economic opportunities for both countries.
Mr. Sun Huanjiang, Committee Member of the CPC and representative of the Qingdao Municipal Marine Development Bureau, emphasized the long-standing bonds between Pakistan and China.
In his remarks, he reaffirmed China’s commitment to enhancing cooperation in science, technology, and industrial development, while prioritizing exchanges in marine development and blue economy initiatives.
“China is committed to strengthening the All-Weather Partnership with Pakistan through expanded collaboration in science, technology, trade, and investment,” he stated, urging a renewed focus on sustainable marine resource management.
The Secretary of Pakistan’s Board of Investment, Mr. Rahim Hayat Qureshi, appreciated the spirit of collaboration across sectors and highlighted the potential for enhanced engagement within the fisheries sector.
Mr. Qureshi’s comprehensive presentation showcased Pakistan’s rich marine resources and detailed the incentives offered by the Pakistani government to Chinese investors, including policy facilitation and financial support measures.
He encouraged Chinese investors to explore mutually beneficial opportunities in aquaculture, food processing, and export, leveraging Pakistan’s strategic location, low labor costs, and abundant marine assets.
He urged for increased partnership among businesses from both countries to foster mutually beneficial cooperation. Additionally, he delivered a comprehensive presentation detailing the fisheries sector in Pakistan and the incentives offered by the Pakistani government for Chinese investors.
Highlighting Pakistan’s vast marine resources, the Ambassador called on Chinese companies to take advantage of Pakistan’s enormous natural resources, low labour costs, and strategic location and explore long-term mutually beneficial joint ventures and partnerships in aquaculture expansion, food processing, and export opportunities.
The event concluded with significant advancements in Pakistan-China economic cooperation, with eleven Memoranda of Understanding (MoUs) and one contract signed between Pakistani and Chinese companies, securing a total of $64 million in investments.
Among these agreements, a key MoU between the Pakistan Fishery Exports Association and the Seafood Specialized Committee of China establishes a foundation for future B2B exchanges, joint ventures, and expanded trade in fisheries.
The Pakistan-China B2B Investment Meeting in Fisheries is part of a broader BoI-led initiative comprising six targeted events to deepen business-to-business interactions, foster investment opportunities, and catalyze cross-border partnerships, enhancing trade and investment dynamics between Pakistan and China.
The Board of Investment is following an integrated strategy to cooperate with business enterprises in China and with this initiative the Pakistani business community can access to the American and European markets through global road shows said Federal Minister for Board of Investment, Privatization and Communications Abdul Aleem Khan while chairing a high-level meeting held in Islamabad to review Pakistan-China Business-to-Business activities.
Seven major sectors are of great importance, including leather, textiles, medical and surgical equipments, fruits and vegetables, plastics, fisheries and animal food as Pakistan-China business cooperation can be a big breakthrough for the country’s economy, he added.
Khan further said that a total of 168 companies from China and 78 companies from Pakistan are working under mutual cooperation and Pakistan should take maximum share in the transfer of industries from China.
He said that increase in business partnership from China is our first priority for which we will provide all possible support. He added that all the Officers of Pakistani Embassy in China playing a significant role in the promotion of business while we will ensure the provision of all possible facilities to the business community of Pakistan.
Executives of leading Pakistani organisations participated in the high-level meeting and assured full participation in both the road shows in China while senior officials including the federal secretary Board of Investment and the officers of Pakistani Embassy in China gave an online briefing to the Federal Minister for Board of Investment.
Aleem Khan appreciated the business organisations of Pakistan for their cooperation and practical steps in improving their business in China.
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