China-Pakistan friendship should be transformed into stronger investment, economic, and trade ties: PM

Karachi: Prime Minister Shehbaz Sharif has emphasized the importance of deepening the already strong friendship between China and Pakistan by transforming it into stronger investment, economic, and trade ties.

He noted that the next phase of the China-Pakistan Economic Corridor (CPEC) would primarily focus on business-to-business (B2B) collaborations, particularly in the industrial sector.

The Prime Minister made these remarks during an address to representatives of international companies from China, who are doing business in Pakistan. The event, was also attended by the Governor and Chief Minister of Sindh, several Federal Ministers, prominent business leaders, and senior officials.

Prime Minister Shehbaz Sharif remarked, “Pakistan and China are not just friends; they are iron brothers. Now, we must translate this brotherhood and friendship into enhanced investment, economic, and trade relations, especially in agriculture, information technology, mining, minerals, and infrastructure.”

Highlighting Pakistan’s status as an agrarian economy with over 60% of its population living in rural areas, the Prime Minister stressed the need to further strengthen and enhance the country’s agricultural output.

He mentioned that Pakistan’s agricultural exports had increased by $3 billion in the last financial year, and the government has set a target to raise an additional US $7 billion in the current fiscal year.

He described this goal as a “quantum leap” that would require significant effort, the adoption of modern technologies and practices, and the implementation of best practices. He also noted that China could be Pakistan’s ideal partner in achieving this target, particularly in boosting agricultural exports and adding value to these exports.

Reflecting on his recent visit to China, Prime Minister Sharif shared his admiration for the advanced technology and educational culture he observed in Chinese institutions. He announced plans to send 1,000 Pakistani students to China for advanced training in agriculture, with the program nearly finalized. These students will participate in refresher courses in China to further their expertise.

Encouraging Chinese businesses to engage in business cooperation agreements with their Pakistani counterparts, the Prime Minister noted that the upcoming phase of CPEC would largely focus on B2B arrangements and joint ventures in industries, particularly in textiles and agricultural production, with the goal of exporting these products to international markets.

He suggested that Pakistan and China could develop a shared mechanism for the production and export of such goods, creating a mutually beneficial situation for both countries.

The Prime Minister also highlighted the growing strength of the Pak-China friendship, which he described as not only “higher than mountains” but now “touching the skies,” referencing Pakistan’s successful launch of its own satellite into space with China’s assistance.