PM Shehbaz guarantees security to Chinese investment.
PM Shehbaz Sharif, in a landmark address at the Pakistan-China Business Forum, reaffirmed Pakistan’s commitment to fostering robust business-to-business (B2B) collaborations with China and guaranteed security to Chinese investment.
The forum, a key event during his five-day visit to China, underscored the immense potential for bilateral trade and investment, particularly in high-impact sectors such as technology transfer, IT, agriculture, mining, steel, textiles, and renewable energy.
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Prime Minister Sharif lauded China’s economic development model, expressing his determination to emulate its success in Pakistan.
He highlighted the significance of Shenzhen’s transformation, from a modest city to a global economic hub with a GDP of $500 billion, contrasting it with Pakistan’s $380 billion GDP.
He called Shenzhen’s growth a “miracle of this century” and a lesson in economic transformation that Pakistan aspires to replicate.
“By God, I can tell you this is difficult but not impossible,” Sharif remarked.
He encouraged Pakistani business leaders to seize the moment and engage in serious discussions with their Chinese counterparts, particularly urging the relocation of Chinese textile industries to Pakistan.
The prime minister assured full governmental support to facilitate these ventures, emphasizing that his administration had already initiated structural reforms to combat corruption.
This is how China gave respect to our PM! 🇵🇰 All Chinese officials stood up for Prime Minister Shehbaz Sharif when he arrived at the China-Pakistan Business Forum. China is already impressed by his skills related to development 👏🏼 #PMShehbazInChinapic.twitter.com/p0KBHxE8Ff
— Saad Kaiser 🇵🇰 (@TheSaadKaiser) June 5, 2024
Highlighting Pakistan’s mineral wealth, estimated at $10 trillion, he stressed the potential for converting these resources into valuable exports.
Sharif extended heartfelt condolences for a recent terror attack on Chinese workers in Besham, describing it as one of the saddest days of his life.
He assured the Chinese community that Pakistan is committed to providing enhanced security for Chinese nationals, pledging that such incidents would not recur.
Deputy Prime Minister and Foreign Minister Ishaq Dar, speaking at the forum, reflected on Pakistan’s historical economic performance and highlighted the challenges posed by political instability.
He shared the government’s clear roadmap for economic recovery, focusing on export-led growth, industrialization, and import substitution.
Dar urged Chinese investors to explore joint ventures, noting Pakistan’s competitive labor costs and the streamlined investment process facilitated by the Special Investment Facilitation Council.
Finance Minister Muhammad Aurangzeb highlighted the positive trajectory of Pakistan’s economic indicators, particularly noting a 6.25% growth in the agricultural sector.
He mentioned ongoing negotiations with the International Monetary Fund (IMF) for a longer-term stability program aimed at securing macroeconomic stability and implementing structural reforms.
The forum, attended by around 500 business leaders from both countries, was organized in Shenzhen to capitalize on the city’s remarkable growth and innovation culture.
Pakistan’s Ambassador to Beijing, Khalil Hashmi, expressed optimism that the forum would pave new pathways for economic and trade cooperation, providing a valuable networking platform for entrepreneurs from both nations.
