Qingdao: The inaugural ‘Pakistan-China B2B Investment Meeting’ on Fisheries was held in Qingdao, Shandong province, marking a significant step in fostering joint ventures and partnerships between companies from both nations. This meeting is part of a strategic initiative to enhance trade and investment following Prime Minister Shehbaz Sharif’s visit to China in June 2024.
According to Press Information Department, the event featured participation from forty-five Chinese companies and twenty-eight Pakistani companies. Mr. Sun Huanjiang, a committee member of the CPC, Qingdao Municipal Marine Development Bureau, underscored the enduring partnership between Pakistan and China. He expressed China’s readiness to bolster scientific exchanges, industrial cooperation, and investment, particularly in developing Pakistan’s blue economy.
Rahim Hayat Qureshi, Secretary of the Board of Investment, commended the robust collaboration across various sectors and encouraged increased business partnerships. Qureshi also presented an overview of Pakistan’s fisheries sector and the incentives available to Chinese investors. The discussion included Pakistan’s abundant marine resources, cost-effective labor, and strategic location, inviting Chinese enterprises to engage in joint ventures in aquaculture expansion and food processing.
The event achieved a milestone with the signing of eleven Memorandums of Understanding (MoUs) and one contract, collectively valued at $64 million. Among these, an MoU between the Pakistan Fishery Exports Association and the Seafood Specialized Committee of China was established to further B2B exchanges and enhance trade and investment in fisheries. This meeting is one of six planned events aimed at facilitating business interactions and strengthening economic ties between the two countries.