ISLAMABAD: Pakistan and China have signed 21 memorandums of understanding and joint ventures worth $4.2 billion to enhance business-to-business (B2B) cooperation in diverse areas, Pakistani state media reported on Thursday, with Prime Minister Shehbaz Sharif assuring Chinese businessmen removal of all hiccups in investment procedures.
The agreements were signed at the second Pakistan-China B2B Investment Conference in Beijing that Sharif as a reflection of the “iron-clad brotherhood” between Pakistan and China, unveiling his plans for greater economic cooperation between the two countries.
China is a key strategic ally of Pakistan, with Beijing pouring in tens of billions in energy and infrastructure development projects in the South Asian country under the China-Pakistan Economic Corridor (CPEC), part of President Xi Jinping’s Belt and Road Initiative (BRI).
Speaking at the investment conference in Beijing, the Pakistan prime minister highlighted Pakistan’s unwavering commitment to investor facilitation and told Chinese businessmen that “Pakistan is your second home, just as China is ours,” the Associated Press of Pakistan (APP) reported.
“This is one of the largest business conferences I have attended during my visit to this great country. Our relationship with China is unmatched, higher than the Himalayas, deeper than the deepest oceans, sweeter than honey and stronger than steel,” he was quoted as saying.
