Beijing: Pakistan and China have signed numerous Memorandum of Understanding and Joint Ventures worth $8.5 billion to enhance B2B cooperation in areas including agriculture, industry, health, trade, mining, and minerals. Addressing the signing ceremony in Beijing, Prime Minister Shehbaz Sharif called it the long march of economic development between the two countries. He said this long march will commence from Beijing and conclude in Islamabad. The Prime Minister said this long march will convert Pakistan into a country where investment of billions of dollars, providing jobs to millions of people, and strengthening the economy.

According to Radio Pakistan, the Prime Minister expressed the resolve to work tirelessly until this long march of economic development reaches its destination. The Prime Minister said today, they are going to launch CPEC 2.0, comprising B2B investments in agriculture. He said agriculture is the backbone of Pakistan’s economy as sixty percent of its economy relies on agriculture. He said China has excelled in this sector and encouraged Chinese companies to contribute their experience, expertise, and investments in Pakistan to boost agriculture, creating a win-win situation. He mentioned potential agreements for exporting products that China currently imports from other countries.

Shehbaz Sharif highlighted Information Technology and Artificial Intelligence as areas where China is a global leader, and both countries can enhance bilateral cooperation. He added that mines and minerals present another important area of mutual cooperation. The Prime Minister emphasized that Special Economic Zones are the pillars of CPEC 2.0, suggesting that Chinese industry could be shifted to Pakistan to benefit from a cheaper and skilled workforce. He noted that Chinese entrepreneurs could convert this opportunity into a mutually beneficial relationship between China and Pakistan.

Shehbaz Sharif assured that the security of Chinese nationals in Pakistan is of paramount importance and that all possible measures will be taken in this regard. The Prime Minister also commended the vision and leadership of Chinese President Xi Jinping for development and economic prosperity.