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Saturday, November 09, 2024  
06 Jumada Al-Awwal 1446  

Second phase of CPEC launched with new agricultural and industrial agreements

MoU was established to promote digital transformation
Photo via Reuters
Photo via Reuters

The second phase of the China-Pakistan Economic Corridor (CPEC) has officially begun, marked by the signing of several new agreements aimed at boosting agriculture and industry in Pakistan.

A key agreement worth $400 million was signed between Pakistan’s International Innovation Park Limited and China National Cereals, Oils, and Foodstuffs in Beijing.

This deal is expected to facilitate duty-free access for numerous Pakistani products in global markets, enhancing the country’s agricultural exports.

Additionally, a Memorandum of Understanding (MoU) was established to promote digital transformation and optimize supply chains in 200 textile factories, a vital sector for Pakistan’s economy.

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These agreements signify a critical advancement in the economic collaboration between Pakistan and China, as both nations aim to foster growth and development through the CPEC initiative.

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CPEC

MoU

Agriculture

industrial agreement