Pakistan's envoy to the People's Republic of China, Mr. Khalil Hashmi, called on the Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, to discuss matters relating to Pakistan-China economic cooperation, investment promotion, and avenues for further strengthening bilateral economic and financial ties.
The Finance Minister appreciated Ambassador Hashmi's efforts in advancing Pakistan's economic diplomacy in China and acknowledged the Embassy's proactive engagement in facilitating investment partnerships between Pakistani and Chinese businesses. He emphasized that attracting quality investment, expanding exports, and promoting private sector collaboration remain central to the Government's economic agenda.
The Ambassador briefed the Finance Minister on the progress of investment facilitation initiatives being undertaken by Pakistan's Embassy in Beijing. He informed the meeting that Memoranda of Understanding (MoUs) valued at over US$20 billion had been signed between Pakistani and Chinese entities, supported by a dedicated mechanism to monitor implementation. He noted that a significant number of these commitments had already progressed into formal agreements and commercial arrangements, reflecting encouraging momentum in bilateral investment cooperation.
Ambassador Hashmi further highlighted growing Chinese private sector interest across manufacturing, logistics, pharmaceuticals, biotechnology, textiles, and industrial services. He informed the meeting that nine agreements had recently been concluded in the pharmaceutical and biotechnology sectors, while more than 150 Chinese companies are currently being engaged through the Embassy's investment facilitation platform. Progress on major Chinese investments in industrial manufacturing, logistics infrastructure, and export-oriented textile projects currently under implementation in Pakistan was also reviewed.
The meeting discussed measures to strengthen business-to-business collaboration, particularly for small and medium enterprises (SMEs), through partnerships with leading Chinese industrial platforms. The Finance Minister appreciated the Embassy's structured approach to investor engagement, including sector-specific outreach, advance project preparation, and closer coordination between potential investors and Pakistani businesses.
Discussions also focused on expanding cooperation in capital markets, sovereign financing, and emerging areas of financial innovation. The Ambassador briefed the Finance Minister on ongoing engagement with leading Chinese financial institutions and development partners, preparations for future investment roadshows, and opportunities to strengthen collaboration with institutions such as the Asian Infrastructure Investment Bank (AIIB) and the Silk Road Fund to support private sector investment and infrastructure financing.
Ambassador Hashmi also apprised the Finance Minister of efforts to align technical and vocational training with new Chinese investments to help develop the skilled workforce required by emerging industries. The meeting also reviewed measures to strengthen institutional coordination and further improve investment facilitation between the two countries.
Senator Muhammad Aurangzeb appreciated the progress achieved and underscored the importance of translating investment commitments into timely implementation. He emphasized the need for effective coordination across government institutions to facilitate project execution, enhance investor confidence, and capitalize on emerging opportunities under the Pakistan-China economic partnership.
The meeting also reviewed Pakistan's efforts to deepen economic cooperation under the China-Pakistan Free Trade Agreement (CPFTA). Both sides discussed avenues for expanding exports, promoting value-added manufacturing, improving market access for Pakistani products, and encouraging long-term industrial collaboration between the two countries.
The Finance Minister reaffirmed the Government's commitment to strengthening Pakistan's strategic economic partnership with China through sustained reforms, improved ease of doing business, enhanced investment facilitation, and continued engagement with Chinese public and private sector stakeholders.
