BEIJING (Urdu Times) 650 MoUs worth $22 bln signed in two years to deepen Pak-China B2B cooperation

By. Fatima Javed

BEIJING (Urdu Times), September 20- Pakistan and China have signed more than 650 MoUs and joint venture agreements worth over $22 billion through business-to-business (B2B) initiatives over the past two years, with around 30 percent equivalent to approximately $7 billion progressing beyond the MoU stage into formal agreements and contracts, said Pakistan’s outgoing Ambassador to China Khalil Hashmi.

Giving an overview of Pakistan-China relations during his nearly 34-month tenure, the ambassador said the embassy and Pakistan’s consulates in China had focused on translating strong government-to-government ties into greater private-sector engagement and investment.

He said a research study initiated in early 2024 helped identify 21 priority sectors for investment mobilisation and develop a China-focused investment model centred on joint ventures and strengthening Pakistan’s productive capacity. Under the initiative, Pakistan organised six B2B investment conferences, three in China and three in Pakistan bringing Pakistani and Chinese businesses together across sectors including agriculture, IT and telecommunications, energy storage, pharmaceuticals, biotechnology, healthcare and electrical equipment.

The resulting commitments, he said, represented a significant expansion in direct business engagement. Of the more than $22 billion worth of MoUs and commitments, around 30 percent, or approximately $7 billion, had progressed beyond the initial MoU stage into agreements, contracts, factories or plants. Logistics, e-commerce, textiles and IT were among the sectors where cooperation had produced tangible results, while further B2B conferences were planned in semiconductors, sports goods and surgical instruments.

Efforts were also made to strengthen institutional mechanisms for private-sector cooperation, including work toward establishing a Pakistan-China Chamber of Commerce and Industry in China and other commercial platforms to facilitate direct business engagement. A key element of the investment strategy was linking investment mobilisation with vocational and technical training, ensuring that a skilled workforce is available as new factories and industrial projects are established. “The purpose is to have a skilled workforce ready when factories are established,” he said.

The embassy also established four Pakistan Study Centres in China to promote sector-specific cooperation. The centres in Shenzhen, Shandong, Shenyang and Hangzhou focus respectively on areas including technology hardware, agriculture and fisheries, chemical technology, artificial intelligence and e-commerce. The Shenyang initiative has also supported joint research and technical cooperation, including the establishment of a Pakistan-China Joint Research Centre at Shenyang University of Chemical Technology.

Beyond economic cooperation, the tenure also saw a push to expand people-to-people and cultural exchanges. Initiatives included a Pakistan-China fashion show, a Pakistan-China music concert at the Great Wall, a Pakistan food festival, two mango festivals and a job fair. Greater engagement between provincial governments also resulted in sister-province agreements involving Punjab and Zhejiang, as well as Sindh and Hunan and Liaoning, while groundwork was laid for student study visits between Pakistan and China.

Other initiatives included the Pakistan-China Technology Forum and a graduate-level programme focused on emerging technologies. Proposals were also initiated for a Pakistan Study Centre in Xi’an, focusing on civilisational dialogue, historical connections and Silk Road heritage.

A pictorial project featuring 75 Chinese-language collages was also launched to showcase Pakistan’s history, heritage, landscapes and cultural diversity to Chinese audiences. On the institutional side, the Pakistan Embassy in Beijing was upgraded, alongside improvements to its digital platforms aimed at enhancing efficiency and services. The initiatives reflect a broader effort to give Pakistan-China relations a stronger commercial, institutional and people-centred foundation as the two countries mark 75 years of diplomatic relations.

As the ambassador concludes his posting, the progress made in business engagement, investment mobilisation, skills development and people-to-people exchanges provides a foundation for the next phase of bilateral cooperation, with greater emphasis on converting business commitments into operational projects and expanding joint ventures.