Pakistan's Ministry of Foreign Affairs announced on Thursday that two memorandums of understanding (MoUs) signed between Pakistani and Chinese companies at the China International Fair for Trade in Services have strengthened economic relations between the two nations, News.Az reports citing Xinhua news agency.
Mumtaz Zahra Baloch, spokesperson for Pakistan's Foreign Office, told a weekly media briefing that the two MoUs with a combined value of over 350 million U.S. dollars signed during the fair reflected the ongoing strengthening of Pakistan-China economic relations.The spokesperson said that these MoUs were based on the positive trajectory of Pakistan-China economic ties spanning over decades.
Baloch said that Pakistani Prime Minister Shehbaz Sharif's participation in a Pakistan business and investment conference in Shenzhen resulted in multiple business-to-business agreements, 16 of which have already been operationalized.
"These agreements underscore Chinese investors' confidence in Pakistan's market and highlight Pakistan's role as a key regional partner," the spokesperson said.
The spokesperson said continued collaboration between Pakistan and China in the economic domain will foster job creation, technological advancement and capacity building in Pakistan while offering Chinese companies access to the Pakistani market.
