Qingdao: In a move to bolster economic ties between Pakistan and China, the Board of Investment (BoI) held the inaugural Pakistan-China B2B Investment Meeting in Fisheries on October 29, 2024, in Qingdao, Shandong Province. The meeting is part of Prime Minister Shehbaz Sharif’s strategy to enhance trade and investment linkages with China, as outlined during his visit to the country in June 2024. The event aims to foster collaborations between businesses from both nations, tapping into mutual strengths and exploring opportunities within sectors crucial for sustainable growth.
According to Press Information Department, the meeting attracted participation from forty-five Chinese and twenty-eight Pakistani companies, signaling a positive response to the Prime Minister’s call for deeper economic cooperation in Pakistan’s blue economy. The event is seen as a testament to the enduring Pakistan-China All-Weather Cooperative Partnership, focusing on unlocking Pakistan’s marine resources’ potential to fuel sustainable development and economic opportunities. Mr. Sun Huanjiang, a Committee Member of the CPC and representative of the Qingdao Municipal Marine Development Bureau, highlighted the longstanding relationship between the two countries. He reiterated China’s commitment to enhancing cooperation in science, technology, and industrial development, particularly in marine development and blue economy initiatives. “China is committed to strengthening the All-Weather Partnership with Pakistan through expanded collaboration in science, technology, trade, and investment,” he stated.
Mr. Rahim Hayat Qureshi, Secretary of Pakistan’s Board of Investment, acknowledged the collaborative spirit across sectors and emphasized the potential for increased engagement in the fisheries sector. His presentation detailed Pakistan’s marine resources and the incentives available to Chinese investors, including policy facilitation and financial support. He urged Chinese investors to explore opportunities in aquaculture, food processing, and export, taking advantage of Pakistan’s strategic location, low labor costs, and abundant marine resources.
The meeting concluded with significant progress in Pakistan-China economic cooperation, resulting in the signing of eleven Memoranda of Understanding (MoUs) and one contract between Pakistani and Chinese companies, totaling $64 million in investments. A notable agreement between the Pakistan Fishery Exports Association and the Seafood Specialized Committee of China sets the stage for future B2B exchanges, joint ventures, and expanded trade in fisheries. The Pakistan-China B2B Investment Meeting in Fisheries is part of a broader initiative by the BoI, which includes six targeted events aimed at enhancing business-to-business interactions, fostering investment opportunities, and catalyzing cross-border partnerships to strengthen trade and investment dynamics between Pakistan and China.