China and Pakistan have signed a series of Memorandums of Understanding (MoU) which are aimed at strengthening bilateral cooperation in the agricultural sector.
These MoUs will attract investments worth $4.5 billion and the agreements involve 79 companies.
Ten key sectors will be covered by the Pakistan-China agricultural investment agreements including agri-technology, food processing, livestock and other allied fields. The agreement reflects a broad-based approach to modernising agriculture and enhancing productivity.
The minister for commerce for Pakistan, Jam Kamal Khan held a meeting with Chandra Warsananto Sukotjo, the ambassador for Indonesia. In the meeting it was discussed and decided that both sides will promote rice trade and expand cooperation in the agricultural sector.
In rice exports, Pakistan is one of the world’s leading exporters of rice. Increased collaboration with Indonesia could open new markets for Pakistan and also further strengthen ties.
Pakistan and China, earlier this month agreed to strengthen coordination at both multilateral and bilateral forums, reaffirming their close strategic partnership.
The understanding was achieved in Beijing during the seventh round of the Pakistan-China Foreign Ministers’ Strategic Dialogue.
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The talks were co-chaired by Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar and Chinese Foreign Minister Wang Yi.
During the dialogue it was reiterated by both sides that the long standing friendship between China and Pakistan is vital for stability, peace and prosperity in the region and especially important for the two countries.
From a trade point of view both of these developments are equally important. Pakistan needs economic agreements with countries in order to revive its economy.
China and Indonesia are also good allies and strengthening relationships with them through trade will be beneficial for Pakistan.
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