ISLAMABAD: Pakistan and China have signed 32 memorandums of understanding (MoUs) to promote trade and investment between the two countries.

The MoUs were signed during Prime Minister Shehbaz Sharif’s visit to China. He is leading a team of 100 businessmen to explore the potential for promoting bilateral trade and investment.

An official announcement of the Commerce Ministry released on Wednesday said that Minister for Board of Investment Aleem Khan and Minister of Commerce Jam Kamal met with the CEOs of major Chinese enterprises.

Aleem said that this is the best opportunity for the Pakistani business community to tap their Chinese companions to invest there, which will ultimately increase exports. He indicated that this conference has provided the best platform for both sides’ connectivity, which will last in long-term business ties.

He further said that apart from investment, it will also be an opportunity for China to export directly to other countries. The minister said that Pakistan will fully encourage Chinese companies to set up business activities in Pakistan.

The private sector will be given complete freedom to invest in the energy, infrastructure development, farming, engineering construction, and logistics sectors, he added.

Published in Dawn, June 6th, 2024