Business Recorder
KARACHI: Pakistan’s Ambassador to China, Khalil Hashmi, said that remarkable progress has been made in promoting bilateral economic cooperation between Pakistan and China. Over the past two years, more than 300 Memorandums of Understanding (MoUs) and over three dozen joint venture agreements have been signed, with a combined value exceeding USD13 billion. He added that Pakistan has achieved an approximately 30 percent conversion rate of MoUs into formal agreements, reflecting the government’s effective follow-up and implementation mechanisms. Addressing separate ceremonies held on Monday at the Federation of Pakistan Chambers of Commerce and Industry and the Karachi Chamber of Commerce and Industry during the visit of a 70-member high-level delegation from China’s IBI Group, Khalil Hashmi said that although MoUs are generally the first step toward long-term cooperation, the Government of Pakistan has established a comprehensive system to ensure their effective implementation and conversion into practical business agreements. At the FPCCI event, Director of IBI Group and head of the delegation Liu Jun Zhai, Senior Vice President Saqib Fayyaz Magoon, Regional Chairman Sindh and Vice President Abdul Mohaimin Khan, Vice President Nasir Khan, Mian Zahid Hussain, Shabbir Mansha Churra and others were also present. At KCCI, President Rehan Hanif also addressed the gathering, while Chairman Zubair Motiwala, Mian Abrar Ahmad, Tariq Yousuf, Muhammad Raza, Arif Lakhani, former presidents, executive committee members, and members of the Chinese delegation attended the meeting. On this occasion, an MoU was also signed between KCCI President Rehan Hanif and IBI Group Director Liu Jun Zhai. Speaking at FPCCI, Ambassador Khalil Hashmi said that Pakistan-China economic relations have entered a new and sustainable era. The visit of the Chinese trade delegation to Pakistan marks an important step toward implementing the second phase of the China-Pakistan Economic Corridor. He said Pakistan welcomes Chinese investors in minerals, agriculture, information technology, textiles, and all manufacturing sectors. He added that the delegation would not only help increase trade volume but would also contribute to local employment opportunities and the transfer of modern technology. During his address at KCCI, Khalil Hashmi revealed that Pakistan is currently engaged in active negotiations with the world’s leading battery manufacturer CATL, which specializes in lithium-ion and sodium-based battery technologies. Pakistan is encouraging the company to invest and collaborate in the country, and he expressed hope that significant progress in this regard may emerge during the Prime Minister’s upcoming visit to China. IBI Group Director Liu Jun Zhai said that Karachi, owing to its strategic maritime position, industrial infrastructure, and strong business community, has tremendous potential to emerge as an important regional hub for digital trade and smart industrial transformation. She stated that Karachi is not only Pakistan’s commercial capital but also one of South Asia’s most important maritime gateways, serving as a center for industrial, financial, and global trade activities. “In our view, Karachi is not only Pakistan’s present but also its future,” she remarked, adding that IBI Group attaches great importance to establishing a long-term and strategic partnership with KCCI. FPCCI Senior Vice President Saqib Fayyaz Magoon said that Pakistan must focus on producing value-added and quality products to enhance exports to China. He noted that there are vast and attractive opportunities for Chinese investment and joint ventures in minerals, agriculture, food processing, chemicals, and information technology sectors. Regional Chairman Sindh and Vice President FPCCI Abdul Mohaimin Khan said that this was the largest and most significant Chinese trade, industrial, and investment delegation to visit Pakistan in recent years. He urged Pakistani businesses and companies to fully benefit from Chinese expertise, advanced technology, and industrial experience. Vice President Nasir Khan said that extending the brotherly relations between the two countries to the private sector and transforming them into economic cooperation could prove to be a game changer for Pakistan. Chairman of the Pakistan-China Business Council FPCCI, Shabbir Mansha, said there is an urgent need for trade promotion and B2B activities between Pakistan and China. KCCI President Rehan Hanif, while welcoming the high-level delegation of IBI Group, said it was a matter of great pleasure and significance that IBI Group had chosen Pakistan for the formal launch of its Pakistan Digital Economy Headquarters, which reflects the deep friendship, strategic partnership, and growing economic cooperation between Pakistan and China. BMG Chairman Zubair Motiwala said that Karachi’s business community highly appreciates the confidence shown by Chinese institutions in Pakistan’s economy and future. He further stated that the agreement between KCCI and IBI Group would open new avenues for institutional linkages, investment, trade promotion, technology transfer, and industrial cooperation. Copyright Business Recorder, 2026
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