Pakistan and China Sign $382 Million Agriculture Deal
At the China International Fair for Trade in Services (CIFTIS) held in Beijing, a significant agreement worth $380 million was signed between International Innovation Park Limited EPZ and China National Cereals, Oils and Foodstuffs (COFCO). This agreement aims to strengthen agricultural cooperation between Pakistan and China by expanding trade and collaboration in the agricultural sector.
Pakistan’s Ambassador to China, Khalil Hashmi, praised this major achievement. He highlighted that Pakistan has strong trade opportunities with leading global economies, especially through the China-Pakistan Free Trade Agreement (CPFTA). He noted that such agreements are beneficial for boosting Pakistan’s agricultural exports and enhancing its economy.
In another important development, Liu Zhai and Naveed Asghar signed a Memorandum of Understanding (MoU) to support digital transformation in Pakistan’s textile industry. This partnership will introduce new technologies to the textile sector, aiming to improve its efficiency and productivity.
Shaikh Muhammad Shariq from the National Bank of Pakistan (NBP) emphasized the significance of CIFTIS as a key platform for international financial cooperation. He pointed out that the event brings together global financial leaders and creates new opportunities for economic collaboration and growth.
Federal Minister Jam Kamal Khan highlighted the ongoing strategic partnership between Pakistan and China. He mentioned that both countries are working closely on various projects that benefit both economies. He also noted that events like CIFTIS are crucial for strengthening these relationships and promoting mutual development in agriculture, textiles, and finance.
This event represents another positive step in the growing relationship between Pakistan and China, showcasing their shared commitment to economic progress and innovation.
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