Pakistan and China have signed a $382 million agreement to boost cooperation in the agriculture sector. The deal was inked between International Innovation Park Limited EPZ and China National Cereals, Oils and Foodstuffs (COFCO) during the China International Fair for Trade in Services (CIFTIS) in Beijing.
Pakistan’s Ambassador to China, Khalil Hashmi, and other officials witnessed the signing. Khalil noted the importance of the partnership, highlighting that Pakistan benefits from preferential trade agreements, including with the European Union, the UK, and China.
In another significant move at CIFTIS, Chinese and Pakistani firms signed a Memorandum of Understanding (MoU) to enhance cooperation in Pakistan’s textile sector. The focus will be on digital transformation and supply chain optimization for 200 factories.
Additionally, Shaikh Muhammad Shariq from the National Bank of Pakistan emphasized the fair’s role in promoting global financial cooperation, particularly with Chinese banks.
Federal Minister for Commerce, Jam Kamal Khan, described Pakistan and China as “iron brothers,” noting the vast potential in their strategic economic partnership through projects like CPEC.
