ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday invited Chinese companies and entrepreneurs to relocate industries to Pakistan, form joint ventures with local firms and take advantage of investor-friendly policies, describing the proposal as a “win-win model” for both countries.
Addressing the Pakistan-China B2B Investment Conference on IT and Telecom, battery energy storage systems (BESS) and agriculture in Hangzhou, the prime minister said rising labour costs in China and the country’s transition toward higher industrialisation had created opportunities for industrial relocation.
He said industries in which China was no longer globally competitive because of expensive labour could shift production to Pakistan by bringing plant and machinery, partnering with Pakistani businesses and exporting goods to third-country markets.
“This model will be a win-win model for Chinese and Pakistani entrepreneurs,” the prime minister said, adding that sectors including textiles and leather held strong potential for cooperation.
Shehbaz Sharif also invited Chinese investors to explore opportunities in the export zone in Karachi and highlighted Pakistan’s untapped potential in mines, minerals and gemstones.
Referring to the agriculture sector, he said Pakistan remained an agrarian economy and stressed the need for improved crop yields, quality seeds, modern farming techniques and mechanisation.
The prime minister noted that China imports around $100 billion worth of agricultural products annually, while Pakistan’s share remained minimal. He said greater bilateral cooperation could significantly increase agricultural exports and generate employment in rural areas.
He said Pakistan expected agricultural trade with China to increase by nearly $10 billion over the next five to seven years.
The prime minister also highlighted investment opportunities in information technology, artificial intelligence and special economic zones.
He said Pakistan was developing a special economic zone spread over more than 6,000 acres in Karachi, where Chinese investors would be offered modern infrastructure, one-window operations and long-term land leases on attractive terms.
“We are looking for expertise, experience and investments, not loans, not aid, not handouts,” he said, adding that sustainable development required investment-driven growth rather than external assistance.
The prime minister said several memorandums of understanding worth billions of dollars had been signed during engagements in Shenzhen and Hangzhou, adding that around 30% of those agreements had already been converted into formal deals.
Shehbaz Sharif also praised the longstanding relationship between Pakistan and China, describing bilateral ties as “deeper than the deepest ocean and higher than the Himalayas” under the leadership of Chinese President Xi Jinping.