Pakistan and China have inked a joint venture agreement and two memoranda of understanding (MoUs) in different key sectors, construction machinery, animal health, and medical technology, during a ceremony attended by President Asif Ali Zardari.
The engagements are aimed at advancing practical cooperation in key sectors, according to a statement issued by the President's House on Friday.
The signing ceremony took place during President Zardari’s five-day visit to China, which focused on strengthening economic and trade ties, particularly through the China-Pakistan Economic Corridor (CPEC).
A MoU was signed between Al Hassan Trade Establishment, Sany International Development, and Hainan Jiaolong International Technology on cooperation in high-end equipment, manufacturing, and construction machinery.
The collaboration focuses on supporting work related to the China-Pakistan Economic Corridor (CPEC), strengthening cooperation in the supply of complete construction machinery and equipment, development of a professional talent training system, and provision of after-sales operation and maintenance services.
The parties will also explore investment opportunities for establishing factories in Pakistan and advancing localised production of construction machinery.
Another MoU was signed by Senator Saleem Mandviwalla, Vice President of Sany Group Li Qin, and Chairman of Hainan Jiaolong International Trade Company Hao Jiaolong.
A Joint Venture Agreement was concluded between the Livestock & Fisheries Department, Government of Sindh, and Luoyang Modern Biology Group, China, for the distribution and supply of animal vaccines in Pakistan, including Foot-and-Mouth Disease vaccines.
The agreement also provides for the exchange of technology and future cooperation on the introduction of track and traceability systems for animals in Pakistan.
The agreement was signed by Sindh Senior Minister Sharjeel Inam Memon and Chairman of Luoyang Modern Biology Group Wang Shanpu.
A documentary highlighting the 75-year-long friendship between Pakistan and China was also screened during the event, reflecting the deep-rooted strategic and cultural relations between the two nations.
A day earlier, President Zardari attended the commissioning of Pakistan Navy's first Hangor-class submarine (PNS/M Hangor) — armed with state-of-the-art weapons — at a ceremony held in Sanya.
During the visit, which commenced on April 26, the president held meetings with provincial leadership and reviewed the full spectrum of Pakistan–China ties, with particular focus on economic and trade cooperation as well as the CPEC, according to the Foreign Office.
It said that the visit forms part of the "longstanding tradition of high-level exchanges between Pakistan and China and carries special significance as both countries mark the 75th anniversary of the establishment of diplomatic relations this year".
It further noted that the trip reflects the "deep commitment" of both sides to further strengthen the strategic cooperative partnership.
