KARACHI: Pakistan’s Ambassador to China, Khalil Hashmi, stated that Pakistan and China have significantly strengthened bilateral economic cooperation, with more than 300 Memorandums of Understanding (MOUs) and over three dozen joint venture agreements signed during the past two years, carrying a combined value exceeding $13 billion.
Speaking during a meeting at the Karachi Chamber of Commerce & Industry attended by a 70-member delegation from China’s IBI Group, Ambassador Khalil Hashmi said the government has developed a structured mechanism to ensure MOUs are converted into practical business agreements. He revealed that Pakistan’s realization rate from MOUs to formal contracts has reached nearly 30 percent, reflecting effective follow-up and execution.
The meeting was attended by IBI Group Director Liu Junzhai, Zubair Motiwala, KCCI President Rehan Hanif, and other business leaders from both countries. During the event, KCCI and IBI Group signed an MoU aimed at promoting strategic cooperation in digital economy initiatives and industrial development.
Highlighting emerging opportunities in technology and energy, Ambassador Khalil Hashmi disclosed that Pakistan is in active discussions with CATL, one of the world’s largest battery manufacturers, regarding investment and cooperation in advanced battery technologies. He noted that the global market is gradually shifting toward sodium-based batteries and emphasized that Pakistan possesses abundant raw materials required for this sector. He expressed optimism that progress could be made during the Prime Minister’s upcoming visit to China.
Speaking on the occasion, Liu Junzhai stated that Karachi has the potential to become a major regional hub for digital trade and smart industrial transformation because of its strategic maritime location, industrial base, and strong business community. She described Karachi as the commercial heart of Pakistan and emphasized IBI Group’s interest in building a long-term strategic partnership with KCCI.
She also introduced IBI Group as one of China’s leading industrial internet and digital trade platforms, listed on the Shanghai Stock Exchange, with extensive experience in industrial digitalization and e-commerce.
Chairman Businessmen Group Zubair Motiwala said the visit of the Chinese delegation reflected the deep-rooted friendship and expanding economic partnership between Pakistan and China. He noted that bilateral trade between the two countries has reached between $23 billion and $28 billion despite global economic uncertainties and supply chain disruptions. However, he expressed concern over the widening trade imbalance, as Pakistan imports more than eight times the volume it exports to China.
Zubair Motiwala stressed the need to shift bilateral relations beyond the traditional import-export model toward joint manufacturing, technology transfer, industrial cooperation, value addition, and export-oriented investment. He also reaffirmed KCCI’s commitment to facilitating Chinese investors and improving the ease of doing business in Pakistan.
Discussing the China-Pakistan Economic Corridor, he described it as the flagship project of China’s Belt and Road Initiative that transformed Pakistan’s infrastructure and energy sectors. He stated that the next phase of CPEC should focus more aggressively on industrial cooperation, Special Economic Zones, renewable energy, agriculture modernization, technology partnerships, and the digital economy.
Speaking on renewable energy, Motiwala said Pakistan’s industrial sector is rapidly shifting toward sustainable energy solutions due to rising electricity costs and energy security concerns. He highlighted that Pakistan has emerged as one of the world’s fastest-growing solar markets, largely supported by Chinese solar technologies and equipment.
On agriculture, he noted that Pakistan has significant untapped potential to increase exports of rice, halal meat, seafood, fruits, sesame, dairy products, and processed foods to China, particularly in response to growing demand from China’s expanding middle class.
KCCI President Rehan Hanif welcomed the Chinese delegation and described the launch of IBI Group’s Pakistan Digital Economy Headquarters as an important milestone reflecting the growing strategic partnership between Pakistan and China. He added that as global economies rapidly transition toward digital transformation, AI-driven commerce, and smart manufacturing, Pakistan offers immense opportunities for strategic collaboration and investment, with Karachi serving as an ideal gateway for Chinese enterprises.