The recent Memoranda of Understanding (MoUs) between Pakistani and Chinese companies are set to transform Islamabad's economy by boosting investment, infrastructure, and technology. Signed at the Pakistan-China Business Conference in Shenzhen, the agreements involved 500 Chinese and 100 Pakistani companies across sectors like agriculture, IT, and pharmaceuticals.
Dr. Liaquat Ali Shah from the Pakistan Institute of Development Economics highlighted the pivotal role of Pakistan-China relations in the country's foreign policy, emphasizing the significant impact of CPEC on Pakistan's progress. The Pakistani government is focused on attracting Chinese investments, crafting strategies to make the country a prime destination for international business.
Wang Shengjie from the Chinese Embassy stressed the need for alignment between the two nations' policies to realize the full potential of the upgraded CPEC, proposing a 5C framework to complement Pakistan's 5E framework. Chinese experts will be brought in to develop special economic zones in Pakistan.
Minister Abdul Aleem Khan praised the conference for enhancing bilateral trade and noted that the 32 MoUs will further strengthen Pakistan-China economic ties.
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