Islamabad: Pakistan and China signed 13 Memorandums of Understanding (MoUs) worth USD 250 million on Tuesday, focusing on joint ventures in animal fodder and fruit and vegetable processing. The news has been sourced from a November 26 article.
According to the agreements formalised during a Business-to-Business (B2B) Matchmaking Meeting held in Beijing, featured presentations, networking, and discussions aimed at expanding trade in priority agricultural sectors.
Ambassador Khalil Hashmi highlighted Pakistan’s agricultural potential and investor-friendly policies, such as 100% foreign equity ownership, zero tariffs on machinery imports, and profit repatriation incentives.
He emphasised Pakistan’s leadership in producing fruits, vegetables, and animal products, as well as growth in sectors like maize production, which increased by 12% from 2017 to 2022, and the poultry feed market, now valued at USD 2 billion. Pakistan’s export portfolio in value-added products, including juices and pickled foods, was also showcased.
Mayor Liu Jianjun of Weifang and Wang Qihui of China’s Ministry of Commerce praised the collaboration, acknowledging Pakistan’s efforts to foster meaningful partnerships and the potential for deeper engagement. These agreements underscore the strategic importance of agriculture in boosting trade ties, with both nations committed to unlocking economic opportunities and fostering long-term growth.
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