PM Directs Swift Conversion of China MoUs into Agreements and Joint Ventures
Islamabad (Khabar Desk) — Prime Minister Shehbaz Sharif has directed authorities to accelerate the process of converting Memorandums of Understanding (MoUs) signed during his recent visit to China into formal agreements and joint ventures.
Chairing a review meeting on the progress of decisions taken during the Pakistan-China Business-to-Business (B2B) Conference held in Hangzhou, the prime minister said that the growing business-to-business ties between the private sectors of both countries mark the beginning of a new era of economic cooperation.
He stated that enhanced collaboration in industry, agriculture, and technology with China would significantly boost Pakistan’s exports and create new employment opportunities in the country.
The prime minister instructed that all MoUs signed during the Hangzhou B2B Conference should be promptly converted into structured agreements and joint ventures. He also decided to personally chair monthly review meetings to monitor progress on the conference outcomes.
He further directed that cooperation between the Chinese Academy of Agricultural Sciences and the Pakistan Agricultural Research Council (PARC) be made fully operational. He said that joint projects in agricultural research and modern technology would bring revolutionary improvements in Pakistan’s agriculture sector.
According to a briefing, the Pakistan-China B2B Conference held on May 24 in Hangzhou was attended by 123 Pakistani and 436 Chinese companies.
During the event, 207 MoUs worth approximately $7.54 billion were signed across various sectors, including battery energy storage systems, artificial intelligence (AI), mobile phones, handheld devices, fertilizers, seeds, modern irrigation equipment, fisheries, food processing, biotechnology, and vaccine production.
The meeting was attended by federal ministers Rana Tanveer Hussain, Ahsan Iqbal, Ahad Khan Cheema, Shaza Fatima Khawaja, and other senior government officials.
