Beijing, 23 October 2023 (TDI): Pakistan’s Minister of Commerce, Dr. Gohar Ejaz signed a Memorandum of Understanding (MOU) on Pakistan’s behalf with the Chinese Minister of Commerce, Wang Wentao in Beijing, on October 23.
Under this MOU, China will assist Pakistan for enhancing its exports to China.
This MOU will go a long way in increasing Pakistan’s exports to China and will contribute to job creation, in addition to balancing bilateral trade.
Minister of Commerce also met China-Pakistan (Qingdao) International Cooperation Hub Director Wang Zihai.
Discussions centered on investment opportunities in Pakistan, including areas such as civilian and defence equipment, lithium batteries for electric vehicles, solar panels, and semi-conductors.
Earlier, Gohar Ejaz held a meeting with Chairman Jianguang of China Metallurgical Group Corporation (MCC) global leaders in mining and manufacturing, on October 21.
Assured him of complete support under SIFC for expansion, value addition by setting up minerals and metals processing facility and development of the steel industry in Pakistan.
The discussions revolved around expanding collaboration and tapping into MCC’s expertise to foster partnership growth.
The Minister also visited China Oil and Foodstuffs Corporation (COFCO), a leading global food procurement agency, to discuss the possibilities of enhancing Pakistan’s grains and food exports to China.
Gohar Ejaz invited them to establish their regional office in Pakistan to procure more Pakistani products invest in Pakistan and make it a hub of its global value chain and storage network with support from SIFC.
He also met with several other prominent Chinese enterprises and organizations, including Shandong Xinxu Group, ADM Group, China National Agriculture Development, China National Fisheries Corp, Tianjin Meat Association, and CNAGS.
Minister of Commerce underscored Pakistan’s commitment to meeting China’s export standards and promised rapid processing plant setup if exports to China are greenlit.
In a separate meeting with BYD, a global leader in electric vehicles (EVs), discussions focused on investment opportunities in Pakistan and the government’s supportive policies, including the role of SIFC.
He also witnessed agreement signing between TELD, Chinese EV infrastructure development company, and REC Group from Pakistan for transfer of technology and establishment of EV facilities in Pakistan.
His meetings with business leaders reflect Pakistan’s commitment to fostering economic cooperation and development with China.
Gohar Ejaz also engaged with Jin Weidong, President of Wellhope, a leading Chinese agri-producer.
The Minister highlighted the significant opportunities within Pakistan’s agricultural, poultry, and meat sectors.