Prime Minister Shehbaz Sharif has emphasized the need to further enhance cooperation with China in the fields of agriculture, information technology, artificial intelligence, and other sectors.
He was addressing the Pakistan-China B2B Investment Conference in Hangzhou today.
The Prime Minister said China imports agricultural products worth one hundred billion dollars every year, while Pakistan’s share in these imports is only a small fraction.
He said that with Chinese support and cooperation, Pakistan can produce agricultural products in line with Chinese requirements in terms of quality and other standards. He expressed the hope that over the next five to seven years, Pakistan would increase its agricultural exports to China by about ten billion dollars.
Shehbaz Sharif said the government has established a Special Economic Zone in the port city of Karachi, spread over six thousand acres. He said the zone will feature modern infrastructure, a seamless business environment, and a one-window operation. He also offered land to Chinese investors on a long-term lease at highly attractive terms and conditions.
The Prime Minister said labour costs in China have become considerably high and urged Chinese investors to relocate their plants and machinery to Pakistan. He encouraged them to enter into joint ventures with Pakistani entrepreneurs. He said the manufactured goods could then be exported to third countries. He described this arrangement as a win-win model for both sides.
Shehbaz Sharif also invited Chinese investors to invest in Pakistan’s mines and minerals sector. He said Pakistan possesses vast reserves of minerals and gemstones.
He said Pakistan is seeking expertise, experience, and investment rather than loans and aid.
The Prime Minister said President Xi Jinping is a visionary leader who has transformed China into a world-class economic and military power, adding that Pakistan, as a true friend, takes pride in China’s achievements.
