Chinese-Pakistani companies participate in B2B Investment Meeting on Fisheries in Qingdao

Beijing: As many as 45 Chinese and 28 Pakistani companies participated in the first Pakistan-China B2B Investment Meeting on Fisheries held on Tuesday in Qingdao, Shandong province on China.

The event was the first in a series of sector-specific meetings to foster joint ventures and partnerships between Pakistani and Chinese companies.

The event is a follow-up to Prime Minister Shehbaz Sharif’s visit to China in June 2024 to further promote trade and investment between the two countries.

Sun Huanjiang, Committee Member of CPC, Qingdao Municipal Marine Development Bureau, in his remarks, reiterated the historic All Weather Cooperative Partnership between Pakistan and China.

He stated that China was willing to strengthen science and technological exchanges, industrial cooperation, trade and investment, and cooperate in Pakistan’s development of the blue economy.

Secretary of the Board of Investment Rahim Hayat Qureshi appreciated the strong collaboration between China and Pakistan across various sectors.

He urged for increased partnership among businesses from both countries to foster mutually beneficial cooperation. Additionally, he delivered a comprehensive presentation detailing the fisheries sector in Pakistan and the incentives offered by the Pakistani government for Chinese investors.

Highlighting Pakistan’s vast marine resources, the Ambassador called on Chinese companies to take advantage of Pakistan’s enormous natural resources, low labour costs, and strategic location and explore long-term mutually beneficial joint ventures and partnerships in aquaculture expansion, food processing, and export opportunities.

The event concluded with the signing of eleven MoUs and one contract between Pakistani and Chinese companies worth $64 million.

An MoU between the Pakistan Fishery Exports Association and the Seafood Specialized Committee of China was also signed to enhance further B2B exchanges, Joint Ventures and trade and investment in the fisheries sector.

The event was part of six planned events to facilitate business-to-business interactions and offer platforms for dialogue and partnership to enhance trade and investment between Pakistan and China.