Pakistan’s Ambassador to China, Khalil Hashmi, announced significant progress in Pakistan-China economic cooperation, with over 300 MOUs worth more than $13 billion signed in the past two years. During a meeting with a high-level delegation from IBI Group, Hashmi highlighted the effective implementation of these agreements, achieving a nearly 30% conversion rate to formal contracts.

The meeting also formalized a Memorandum of Understanding (MoU) between KCCI President Rehan Hanif and IBI Group Director Liu Junzhai to foster a strategic partnership in digital and industrial development.

Hashmi discussed opportunities in energy and technology, particularly regarding potential collaborations with CATL, a leading battery manufacturer. He emphasized Pakistan’s goal to attract investment in advanced battery manufacturing, leveraging its raw material resources.

Liu Junzhai noted Karachi’s potential as a regional hub for digital trade due to its strategic position and strong business community. Chairman of the Businessmen Group, Zubair Motiwala, remarked that the MoU would enhance trade, technology transfer, and industrial collaboration between China and Pakistan, despite ongoing global economic challenges.