ISLAMABAD: Around 150 Pakistani companies are taking part in an international service trade fair being held in China, Pakistan’s privatization minister said this week, announcing that the event would serve as an “excellent opportunity” to enhance investment in the South Asian country.
The China International Fair for Trade in Services (CIFTIS) 2024 kicked off in Beijing on Sept. 12, Thursday. Scheduled to run till Sept. 20, over 2,000 companies from 107 countries around the world are taking part in the international event. The fair reflects China’s eagerness to work with the international community to seize opportunities in a fast-evolving global economy.
China is an important trade and investment partner for Pakistan. Chinese investment and financial support since 2013 have been key for Pakistan’s struggling economy, including the rolling over of loans so that Islamabad is able to meet external financing needs at a time when its foreign reserves are critically low.
In his virtual address to the fair, Pakistan’s Investment and Privatization Minister Abdul Aleem Khan spoke about the “ample scope” for investment in agriculture, livestock, food processing and minerals sectors in Pakistan.
“Abdul Aleem Khan said that this international event will be an excellent opportunity and positive step for investment [in Pakistan] with great expectations,” Pakistan’s privatization ministry said in a press release.
It said that Pakistan would ensure all possible support for investments from China, adding that the country was keen on availing opportunities offered by special economic and export processing zones.
Khan noted that Pakistani companies were getting more opportunities to increase their business-to-business activities with China to establish or shift industries to Pakistan.
“He indicated that under CPEC, transport, infrastructure, energy and communication in Pakistan has been developed visibly and there has been a significant improvement in these sectors,” the ministry said, referring to the China-Pakistan Economic Corridor project.
CPEC is a flagship of Beijing’s Belt and Road Initiative through which it has pledged over $60 billion in investment projects in Pakistan. Various power and infrastructure projects have already been built in the South Asian country under CPEC but the implementation of various projects has slowed in recent months.
Pakistan’s Prime Minister Shehbaz Sharif visited China in June on a five-day trip. Sharif’s visit was aimed at upgrading and enhancing CPEC projects, strengthening bilateral ties and fostering stronger ties between the business communities of the two countries.
Around 150 Pakistani companies take part in international trade fair in China
https://arab.news/29u95
Around 150 Pakistani companies take part in international trade fair in China
- Over 2,000 companies from 107 countries are taking part in fair scheduled to run till Sept. 20
- Pakistani minister says trade fair to serve as “excellent opportunity” for investment in country
Pakistan, China to sign multiple MoUs at major agriculture investment conference today
- Hundreds of Chinese and Pakistani firms to attend Islamabad event
- Conference seen as part of expanding CPEC ties into agriculture, trade
KARACHI: Islamabad and Beijing are set to sign multiple memorandums of understanding (MoUs) to boost agricultural investment and cooperation at a major conference taking place in the capital today, Monday, with hundreds of Chinese and Pakistani companies expected to participate.
The conference is being billed by Pakistan’s Ministry of National Food Security and Research as a platform for deepening bilateral agricultural ties and supporting broader economic engagement between the two countries.
“Multiple memorandums of understanding will be signed at the Pakistan–China Agricultural Conference,” the Ministry of National Food Security said in a statement. “115 Chinese and 165 Pakistani companies will participate.”
The conference reflects a growing emphasis on expanding Pakistan-China economic cooperation beyond the transport and energy foundations of the flagship China-Pakistan Economic Corridor (CPEC) into agriculture, industry and technology.
Under its first phase launched in 2015, CPEC, a core component of China’s Belt and Road Initiative, focused primarily on transportation infrastructure, energy generation and connectivity projects linking western China to the Arabian Sea via Pakistan. That phase included motorways, power plants and the development of the Gwadar Port in the country's southwest, aimed at helping Pakistan address chronic power shortages and enhance transport connectivity.
In recent years, both governments have formally moved toward a “CPEC 2.0” phase aimed at diversifying the corridor’s impact into areas such as special economic zones, innovation, digital cooperation and agriculture. Second-phase discussions have highlighted Pakistan’s goal of modernizing its agricultural sector, attracting Chinese technology and investment, and boosting export potential, with high-level talks taking place between planning officials and investors in Beijing.
Agri-sector cooperation has also seen practical collaboration, with joint initiatives examining technology transfer, export protocols and value-chain development, including partnerships in livestock, mechanization and horticulture.
Organizers say the Islamabad conference will bring together government policymakers, private sector investors, industry associations and multinational agribusiness firms from both nations. Discussions will center on investment opportunities, technology adoption, export expansion and building linkages with global buyers within the framework of Pakistan-China economic cooperation.
