Pakistan and China have strengthened their commitment to economic growth by signing several agreements called memoranda of understanding (MoUs). These agreements involve a substantial investment of $10 billion in four important sectors that focus on exports.
The joint ventures will work on creating industries in textiles, agriculture, food, and manufacturing car spare parts. These agreements are the result of collaboration between the private sectors of both countries, highlighting a strong economic partnership.
In addition to these agreements, Pakistan is set to increase exports to China by sending its first shipment of fresh chillies from Karachi. This aligns with a protocol signed last October and is a strategic move considering China’s significant annual spending of $10 billion on chillies.
