Pakistan, June 15, 2024
In addition, the Pakistan government has signed 32 MoUs with different Chinese companies, which has strengthened the ties between the two nations even further.
The signing ceremony took place in Islamabad, and the Prime Minister of Pakistan and Ambassador of China to Pakistan signed the agreement. The MoUs also relate to different sectors, such as infrastructure development, energy, agriculture and technology sector as well.
This includes, notably, the intensification of the development of the China-Pakistan Economic Corridor (CPEC), one of the major BRI projects. The MoUs cover the master plans for the development of new highways, railways, power and other sectors.
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Rent-based agreement: In the energy sector, these agreements aim at the inception of new renewable sources of energy like solar and wind to meet the energy demand of the growing population of Pakistan. Also, the MoUs allow the specifications on the transfer of technology and the development of human capital in the relevant sectors as a means of addressing the sustainability factor.
The agricultural sector has also remained a priority of the agreements, with the intention to increase cooperation in field production, animal farming and food preservation. The purpose of this is to enhance the agricultural yield of Pakistan and help address its food issues.
The signing of these MoUs confirms the existing good economic and diplomatic relations between the governments of Pakistan and China. Thus, it is believed that it would open new chapters of cooperation and investment and will help in the overall social and economic development of Pakistan.
