Pakistan Signed 32 MoUs with China, Came For Business And Development, Not Loans, Pakistani companies should adopt Chinese Model, PM Shahbaz Sharif

Islamabad, Shenzhen, Beijing (Commerce Reporter, News Reporter, Special Correspondent, News Agencies, Monitoring Desk) Prime Minister Shehbaz Sharif signed 32 Memorandums of Understanding (MoUs) in various sectors after business-to-business meetings in China. There will be cooperation in energy, automobile, IT, pharmaceuticals and other sectors. Chinese companies have expressed interest in investing in electric bikes, modern agriculture in Pakistan. China will also train 2 lakh Pakistanis in AI. Prime Minister Shehbaz Sharif says that I have come for business and development, not debt. Pakistani companies should adopt the Chinese model. The Prime Minister visited the Huawei headquarters and the Chinese museum. And invited to establish the Safe City project, while Finance Minister Muhammad Aurangzeb has said that under the Prime Minister's agenda, not the government but the private sector will play its key role in the development of the economy. Panda bonds will be issued during the next fiscal year. Businessmen and investors should increase their investment in Pakistan, current account deficit is reduced, remittances and exports are increasing, tax rate will be increased to 14%, Deputy Prime Minister Ishaq Dar said IT, mineral resources in Pakistan There are vast investment opportunities in many sectors including. According to the details, in Shenzhen, the Prime Minister also participated in the signing ceremony of the framework agreement between Huawei and the Ministry of Science and Technology. Under the framework agreement, Huawei will provide free training to 2 lakh youth of Pakistan in the field of information technology, including artificial intelligence. In addition, Huawei will also provide full support in the establishment of safe cities, e-governance and digitization of the economy in Pakistan. Chairman of Huawei also hosted a luncheon in honor of the Prime Minister and the Pakistani delegation. Upon arrival of Prime Minister Shehbaz Sharif at the Huawei headquarters, Liang Hua, the Chairman of Huawei Company, received a warm welcome, Pakistani national songs were played, and the Prime Minister was briefed by the company's officials during the visit. Chairman Huawei expressed keen interest in investing in various sectors of Pakistan, while the Prime Minister invited Huawei to expand investment in Pakistan and establish safe city projects in different cities of Pakistan on a priority basis.

The Prime Minister visited the exhibition center at the Huawei headquarters, Chairman Huawei informed the Prime Minister about the operations of Huawei around the world, especially in Pakistan and expressed deep interest in investing in various sectors of Pakistan, the Prime Minister and the Chairman of the Pakistani delegation. A bilateral meeting was held with Huawei. In the meeting, the Prime Minister also invited Chairman Huawei to invest in modern technology in the agricultural sector in Pakistan. The Prime Minister also invited Chairman Huawei to visit Pakistan soon. Besides, Prime Minister Shehbaz Sharif while addressing the ceremony of Pakistan China Business Forum in Shenzhen said that the development of China is an example for all that should be emulated, Pakistani companies should adopt the Chinese model. The Prime Minister emphasized the need to strengthen the relationship between the two countries and increase investment. We can achieve something here through mutual consultation and find new ways of development.

Meanwhile, the Prime MinisterZhu Zhaojiang, the founder and chairman of the Chinese company Tranxian Holdings, met Shehbaz Sharif in Shenzhen. On this occasion, the Chinese company expressed deep interest in increasing investment in its mobile manufacturing unit in Pakistan and investing in 4 sectors of mobile phones, electric bikes, modern agriculture and fintech in Pakistan. In this regard, the federal ministers and Pakistan's ambassador to China were directed to prepare an action plan together with the transitional holdings. As a result of government initiatives, the economic indicators are moving in the right direction. He said that the current account deficit will be less than one billion dollars this year. Meanwhile, Foreign Minister and Deputy Prime Minister Ishaq Dar said on this occasion that Pakistan has vast investment opportunities in information technology, mineral resources and other sectors.

There are mineral resources estimated at 10 trillion dollars in Pakistan, the Investment Facilitation Council is taking steps to encourage the business sector and investors. It will be a milestone for the partnership of the countries. Moreover, 32 memorandums of understanding (MOUs) have been signed in Shenzhen, China to increase cooperation between the private sectors of Pakistan and China, according to the announcement issued by the Ministry of Commerce. During Azam's current visit to China, Pakistan and Chinese companies have signed 32 different memorandums of understanding as a result of the federal government's business-to-business initiative. Pakistan and Chinese private sector have signed 4 Memorandums of Understanding (MoUs) in energy sector, 2 in automobile sector, cultural cooperation sector.

While 4 MoUs were signed in the Information and Communication Technology (ICT) sector, the private sectors of Pakistan and China also signed 6 MoUs in the pharmaceutical and healthcare sectors, while logistics 4 MoUs in the sector and 10 in the agriculture and food processing sector were also signed. Private sectors of both the countries also signed letters of intent in the field of optical fiber network. Meanwhile, Prime Minister Muhammad Shahbaz Sharif visited Nanshan One Stop Services Center and Shenzhen Exhibition Museum in Shenzhen and on the spot, the Federal Ministers and relevant Pakistani officials held talks with Nanshan One Stop Services Center today to establish such a modern system in Pakistan.

Directed to finalize the action plan for establishment, Federal Investment Minister Abdul Aleem Khan and Commerce Minister Jam Kamal Khan met with the CEOs of important Chinese enterprises and signed bilateral agreements and MoUs with Chinese companies. which include the business-to-business activities of Pakistan's Ministry of Commerce, Board of Investment and National Food Security. Meanwhile, the Prime Minister has reached Beijing in the second phase of his five-day visit to China.The President will meet the Prime Minister and the Chairman of the Standing Committee of the National People's Congress. Apart from this, Shahbaz Sharif will also participate in the Pakistan China Friendship and Trade Ceremony and will also meet with the Chief Executive Officers of prominent Chinese companies working on CPEC projects.