ISLAMABAD: Prime Minister Shehbaz Sharif has emphasized the need to bolster Pakistan-China relations in diverse sectors, including agriculture, mines and minerals, information technology and infrastructure, Pakistani state media reported on Friday, amid Islamabad’s efforts to boost trade.
The prime minister said this while addressing a meeting with representatives of foreign companies working in Pakistan, including a large number of Chinese businesspersons, the Radio Pakistan broadcaster reported.
Sharif said Pakistan’s economy largely relied on agriculture and it was time for them to exploit this sector to its full potential and open new ventures in value-added services.
“It is a welcoming sign that such a large number of Chinese investors are visiting Pakistan to identify new business ventures in various fields,” he was quoted as saying.
“We are aiming to increase our agriculture export to an additional seven billion dollars. China can be our great partner in this venture and we believe this target can be achieved if both the countries work together and assist each other.”
Since avoiding a default last year, Pakistan has been trying to position itself as a regional trade hub and to leverage its strategic geopolitical position and enhance its role as a pivotal trade and transit hub connecting China and Central Asia with the rest of the world.
In recent months, there has been a flurry of visits, investment talks, and economic activity between Pakistan, China and Central Asian states, including Uzbekistan, Azerbaijan, Tajikistan and Turkmenistan.
During his meeting with officials of foreign companies, Sharif urged them to enter business-to-business (B2B) agreements with Pakistani firms, particularly in the China-Pakistan Economic Corridor (CPEC).
Since its initiation in 2013, CPEC has seen tens of billions of dollars funnelled into massive transport, energy and infrastructure projects. But the undertaking has also been hit by Pakistan struggling to keep up its financial obligations as well as militant attacks on Chinese nationals in Pakistan.