ISLAMABAD: Pakistan and China have reaffirmed their commitment to strengthening economic cooperation, with Finance Minister Muhammad Aurangzeb emphasizing that attracting quality investment remains the government’s top priority.


The commitment was reiterated during a meeting between Finance Minister Muhammad Aurangzeb and Pakistan’s Ambassador to China, Khalil Hashmi, where both sides reviewed progress on bilateral investment initiatives and discussed measures to further enhance economic ties.


According to an official statement, Aurangzeb stressed the need to increase exports and strengthen collaboration with the private sector, saying that investment commitments should be translated into practical projects at the earliest. He added that the government is continuing reforms and taking effective measures to improve investor confidence and create a more business-friendly environment.


Ambassador Khalil Hashmi informed the meeting that Pakistani and Chinese institutions have signed Memorandums of Understanding (MoUs) worth more than $20 billion, with implementation of the investment agreements already underway.


He said nine new agreements have recently been concluded in the pharmaceutical and biotechnology sectors, while engagement is ongoing with more than 150 Chinese companies interested in investing in Pakistan.


The meeting reviewed growing Chinese interest in Pakistan’s manufacturing, logistics, textile and export-oriented industries. Both sides also agreed to expand partnerships for small and medium-sized enterprises (SMEs) and further strengthen institutional cooperation to facilitate investment.


Participants discussed enhancing collaboration with Chinese financial institutions, including exploring opportunities with the Asian Infrastructure Investment Bank (AIIB) and the Silk Road Fund.


The meeting also emphasized technical training to develop a skilled workforce, expanding cooperation under the Pakistan-China Free Trade Agreement (FTA), improving Pakistani products’ access to the Chinese market, and promoting value-added manufacturing and exports.


Both sides agreed that stronger institutional coordination and sustained reforms would help accelerate investment and further deepen Pakistan-China economic relations.