Pakistan Investment Conference in Beijing – Pak China Companies Sign Two Important Agreements

Federal Commerce Minister Jam Kamal Khan delivered a virtual keynote speech at the Pakistan Investment Conference, held during the China International Fair for Trade in Services (CIFTIS), China’s second-largest exhibition. This event was organized by Pakistan’s Embassy in Beijing, in collaboration with China’s Ministry of Commerce (MOFCOM) and the Beijing Municipal Government, with the aim of enhancing B2B exchanges and promoting investment opportunities in Pakistan.

During his speech, Jam Kamal Khan emphasized the strong strategic partnership between Pakistan and China, commonly referred to as “iron brothers.” He underscored the importance of aligning the two nations’ economic cooperation with their robust political and strategic relations.

The minister highlighted the progress in the economic relationship, particularly through initiatives like the China-Pakistan Economic Corridor (CPEC) and the China-Pakistan Free Trade Agreement (CPFTA), but also noted that there remains significant untapped potential in these partnerships.

He further focused on Phase II of CPEC, which prioritizes business-to-business exchanges and mutually beneficial partnerships. Since the Prime Minister’s visit to China in June 2024, there has been renewed momentum in facilitating Chinese investments in Pakistan. The minister assured Chinese investors of the government’s continued support and commitment to creating a favorable environment for investment and industrial development.

Jam Kamal Khan outlined Pakistan’s competitive advantages for Chinese businesses, including its economic resources, investor-friendly policies, and access to regional and global markets. He also pointed out Pakistan’s demographic strength, with a population exceeding 240 million and a median age of 21, offering both a substantial consumer base and a cost-effective, adaptable workforce.

The conference showcased various Pakistani companies and organizations, including the Pakistan Green Initiative (SIFC), Exports Processing Zones Authority, Dhabeji Special Economic Zone, Gwadar Free Zone, and others, highlighting Pakistan’s potential in sectors such as agriculture, industry, ICT, and banking.

Prominent Chinese officials were also in attendance, such as Ms. Liu Meiying from the Beijing Municipal People’s Government, Mr. Li An from MOFCOM, Ms. Lin Changhua from the SCO Demonstration Area, and Mr. Zhang Yanqing from the Pingdingshan City government.

Two key agreements were signed during the event. These included a $382 million investment contract between COFCO Technology and International Innovation Park Limited, and a Memorandum of Understanding (MoU) between IBI and CEO Waetz Asia for the digital transformation and supply chain optimization of 200 textile factories in Pakistan.

The second half of the conference included panel discussions on industrial park development in Pakistan, as well as agricultural and technological cooperation between the two countries. The discussions were held at the Pakistan Pavilion, where an Investment Lounge facilitated B2B meetings between Pakistani and Chinese enterprises. The pavilion, themed “Invest in Pakistan,” remained active from September 12 to 16, 2024, and saw substantial engagement from Chinese businesses.

In concluding his speech, Jam Kamal Khan encouraged Chinese businesses to explore the investment opportunities in Pakistan, stating that with new developments on the horizon, now is the ideal time to invest. He extended a warm invitation to all participants to visit Pakistan and explore the exciting prospects firsthand.