Pak China Agreements

Pakistan and China have further expanded their economic cooperation in the form of 32 MoUs. The MoUs were signed during Prime Minister Shehbaz Sharif's visit to China, which is ongoing in connection with his participation in the Pakistan-China Business Forum. Shahbaz Sharif arrived in Beijing on the second day of his five-day visit to China on Wednesday, where he met Chinese President Xi Jinping and other top leaders and signed a ceremony on trade and investment agreements in various sectors. These agreements to increase trade and investment have far-reaching benefits and consequences due to their universality. It is clear from the titles of MoUs and other indications that cooperation has increased in many sectors including energy, automobiles, IT, pharmaceuticals. will Chinese companies in Pakistan electric bikes, modern agriculture He has also expressed interest for investment in Pakistan, while two lakh Pakistani youth will also be trained in artificial intelligence. The prospects for trade growth in the fields of electronics, home appliances, textiles, leather, jewelry, minerals have been highlighted. In this context, the statement of Prime Minister Shehbaz Sharif is of special importance that he has not traveled for a loan, but for business and development. This statement makes clear the direction of Islamabad's new strategy. Shahbaz Sharif, while addressing the Pakistan-China Business Conference in Shenzhen, China, also said that China's development is worthy of emulation and ideal for all. He repeatedly advised Pakistani companies to adopt the Chinese model and market their products in a better way to the world Present in front. In this regard, he said that the government will fully cooperate with companies adopting the Chinese model. Shahbaz Sharif termed the holding of the business conference as a source of golden opportunities for Pakistan and advised Pakistani businessmen to look for joint investment opportunities with their Chinese counterparts. are up to trillions of dollars while our export volume is only 30 billion dollars. The only way to improve this situation is to adopt the Chinese model. It is clear from the Prime Minister's statement that the government has already initiated structural changes in this regard, while the Belt and Road Initiative is a guarantee of progress. He asserted that foolproof security will be provided to the Chinese residents in Pakistan. The Prime Minister also visited the headquarters of Huawei Company and the Chinese Museum and encouraged the company to set up Safe City projects in various cities of Pakistan, especially cities where CPEC projects are being worked on. It is clear from the Prime Minister's speech that the government is taking steps to digitize government offices on a priority basis. Tax system and e-governance are also being given attention. There are vast opportunities for Chinese companies in these sectors. Prime Minister Shehbaz Sharif's visit to China is ongoing at a time when Pakistan-China Economic Corridor is entering the second phase. This phase not only paves the way for the continuation of the already decided projects but also lays the foundation for new projects. At this time, as new avenues of investment are opening up in the form of 32 agreements, many initiatives including eradication of corruption, prevention of smuggling have become necessary and are being addressed. It should be expected that the coming months and years will see progress in several directions, including an increase in investment and trade between Pakistan and China.