In alignment with Prime Minister Shehbaz Sharif’s directive to advance Pakistan-China economic ties, the Board of Investment (BoI) organized the first Pakistan-China B2B Investment Meeting in Fisheries on 29 October 2024, in Qingdao, Shandong Province. This milestone event underscores the Prime Minister’s commitment, demonstrated during his visit to China in June 2024, to strengthen trade and investment linkages, and solidify Pakistan’s strategic partnership with China. This meeting marks the first in a series of sector-specific initiatives aimed at facilitating meaningful collaborations between businesses from both nations, harnessing mutual strengths, and exploring synergies across sectors critical to sustainable growth. The event, featuring the participation of forty-five Chinese and twenty-eight Pakistani companies, reflects a robust response to the Prime Minister's call for advancing economic cooperation and deepening engagement in Pakistan's blue economy. The event, a testament to the enduring Pakistan-China All-Weather Cooperative Partnership, aims to unlock the vast potential of Pakistan’s marine resources and strategic location to drive sustainable development and generate economic opportunities for both countries. Mr. Sun Huanjiang, Committee Member of the CPC and representative of the Qingdao Municipal Marine Development Bureau, emphasized the long-standing bonds between Pakistan and China. In his remarks, he reaffirmed China’s commitment to enhancing cooperation in science, technology, and industrial development, while prioritizing exchanges 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, urging a renewed focus on sustainable marine resource management. The Secretary of Pakistan’s Board of Investment, Mr. Rahim Hayat Qureshi, appreciated the spirit of collaboration across sectors and highlighted the potential for enhanced engagement within the fisheries sector. Mr. Qureshi’s comprehensive presentation showcased Pakistan's rich marine resources and detailed the incentives offered by the Pakistani government to Chinese investors, including policy facilitation and financial support measures. He encouraged Chinese investors to explore mutually beneficial opportunities in aquaculture, food processing, and export, leveraging Pakistan’s strategic location, low labor costs, and abundant marine assets. The event concluded with significant advancements in Pakistan-China economic cooperation, with eleven Memoranda of Understanding (MoUs) and one contract signed between Pakistani and Chinese companies, securing a total of $64 million in investments. Among these agreements, a key MoU between the Pakistan Fishery Exports Association and the Seafood Specialized Committee of China establishes a foundation for future B2B exchanges, joint ventures, and expanded trade in fisheries. The Pakistan-China B2B Investment Meeting in Fisheries is part of a broader BoI-led initiative comprising six targeted events to deepen business-to-business interactions, foster investment opportunities, and catalyze cross-border partnerships, enhancing trade and investment dynamics between Pakistan and China.
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