Pakistan and Chinese companies have signed agreements and Memorandums of Understanding (MoUs) worth more than $7 billion to strengthen economic cooperation. The deals were finalized during the Pakistan-China B2B Investment Conference held in Hangzhou, China.
Prime Minister Muhammad Shehbaz Sharif witnessed the signing ceremony and called it a major milestone in Pakistan-China economic relations. The agreements cover key sectors including Information Technology, Telecommunications, Battery Energy Storage Systems (BESS), Agriculture, Fertilizer, and Agrochemicals.
A major highlight was a $1.12 billion agreement between China’s Haulo Engineering & Technology and Pakistan’s Fauji Fertilizer Company for fertilizer production and industrial cooperation. Additionally, a $100 million MoU was signed between IBI Beijing United Information Technology Company and RIC for agrochemicals, agricultural machinery, and setting up a regional office in Multan.
PM Shehbaz Sharif invited Chinese investors to relocate industries to Pakistan and set up joint ventures. He particularly encouraged greater cooperation in agriculture to meet China’s huge import demand, which could create jobs and boost rural economies in Pakistan.
This development reflects Pakistan’s efforts to attract Chinese investment beyond traditional infrastructure projects under CPEC Phase 2.
The new deals are expected to bring modern technology, create employment opportunities, and increase Pakistan’s exports in the coming years.
