ISLAMABAD: Finance Minister Muhammad Aurangzeb met with Pakistan’s Ambassador to China Khalil Hashmi, during which detailed discussions were held on economic cooperation, investment and promotion of bilateral trade relations between Pakistan and China.
The Finance Minister said that quality investment in Pakistan is the government’s top priority, while special attention is being paid to increasing exports and private sector cooperation.
He emphasised that it is important to quickly translate investment promises into actionable plans and that effective measures are underway to increase investor confidence.
In the meeting, Pakistani Ambassador Khalil Hashmi said that memorandums of understanding (MoUs) worth $20 billion have been agreed upon with Chinese institutions, while the process of implementing investment agreements worth more than $20 billion is underway.
He said that 9 new agreements have been signed in the pharmaceutical and biotechnology sectors, and contacts are ongoing with more than 150 Chinese companies for investment.
According to the statement, the meeting agreed to increase cooperation in manufacturing, logistics, textiles, export industries, small and medium-sized enterprises (SMEs), strengthen business ties, and make institutional cooperation for investment more effective.
The meeting also reviewed the possibilities of promoting cooperation under the Chinese financial institutions, AIIB, Silk Road Fund, Pakistan-China Free Trade Agreement, and improving access of Pakistani products to the Chinese market.
