Prime Minister Muhammad Shehbaz Sharif has called for the immediate conversion of the Memorandums of Understanding (MoUs) signed at the recent Pak-China Business-to-Business Conference in Hangzhou into formal agreements and joint ventures. During a high-level review meeting held in Islamabad on Monday, the Prime Minister emphasized the importance of promptly following up on the outcomes of his recent visit to China to ensure these agreements translate into concrete economic gains for Pakistan.
Highlighting a new phase of economic collaboration, Sharif noted the significant increase in private sector engagement between Pakistan and China as the foundation of a strengthened economic partnership. He pointed out that expanded cooperation in industrial, agricultural, and technological sectors with China would substantially enhance Pakistan’s export capacity and create new job opportunities.
In particular, the Prime Minister stressed the need to operationalize the partnership between the Chinese Academy of Agricultural Sciences and the Pakistan Agricultural Research Council. He expressed optimism that joint ventures, agricultural research initiatives, and the integration of advanced Chinese technologies could transform Pakistan’s agricultural landscape.
At the meeting, officials reported that 123 Pakistani and 436 Chinese companies participated in the B2B Conference held on May 24 in Hangzhou. This event resulted in the signing of 207 MoUs valued at around $7.54 billion. These agreements span critical sectors such as battery energy storage systems, artificial intelligence, mobile phones and handheld devices, fertilizers, seeds, advanced irrigation technologies, fisheries, food processing, biotechnology, and vaccine production.
To ensure effective implementation, the Prime Minister announced he will personally lead monthly review meetings to closely monitor the progress of these agreements, underscoring the government’s commitment to turning these MoUs into actionable projects that benefit Pakistan’s economy and workforce.
