China and Pakistan Secure $400 Million Deals at CIFTIS

At the China International Fair for Trade in Services (CIFTIS) in Beijing, China and Pakistan finalized significant agreements totaling $400 million. International Innovation Park Limited EPZ and China National Cereals, Oils and Foodstuffs (COFCO) signed a major $380 million agreement to collaborate on agricultural projects. The signing ceremony, attended by Pakistan’s Ambassador to China, Khalil Hashmi, and other key figures, marks a significant milestone in Sino-Pakistani economic relations.

Additionally, Liu Zhai, Senior Vice President of IBI, and Naveed Asghar, Chairman and CEO of Waetz Asia, signed a Memorandum of Understanding (MoU) to advance digital transformation and supply chain optimization across 200 textile factories in Pakistan.

CIFTIS also emerged as a crucial venue for fostering financial collaboration. Shaikh Muhammad Shariq of the National Bank of Pakistan (NBP) highlighted the fair's role in enhancing global financial ties and exploring new opportunities. NBP, with its substantial asset base, is actively seeking partnerships to drive growth and stability in the financial sector.

Federal Minister for Commerce, Jam Kamal Khan, emphasized the deepening economic partnership between Pakistan and China, pointing to initiatives like CPEC and CPFTA as key drivers of their strategic relationship. He also delivered a keynote address at the Pakistan Investment Conference during the fair.