Pakistan and China have signed a joint venture agreement along with two Memorandums of Understanding (MoUs) covering cooperation in construction machinery, animal health, and medical technology. The signing ceremony was attended by President Asif Ali Zardari.
According to a statement issued by the President House on Friday, the agreements are aimed at advancing practical cooperation between the two countries in key economic and technical sectors.
The signing ceremony was held during President Zardari’s five-day visit to China, which is focused on strengthening bilateral economic and trade relations, particularly under the China-Pakistan Economic Corridor (CPEC) framework.
Under one of the MoUs, Al Hassan Trade Establishment, Sany International Development, and Hainan Jiaolong International Technology agreed to cooperate in high-end equipment, manufacturing, and construction machinery.
This collaboration will support CPEC-related projects by strengthening cooperation in the supply of complete construction machinery and equipment, developing a professional talent training system, and providing after-sales operation and maintenance services.
The parties also plan to explore investment opportunities for setting up manufacturing plants in Pakistan and promoting localized production of construction machinery.
In addition, another MoU was signed involving Senator Saleem Mandviwalla, Vice President of Sany Group Li Qin, and Chairman of Hainan Jiaolong International Trade Company Hao Jiaolong.
Separately, a Joint Venture Agreement was signed between the Livestock & Fisheries Department of the Government of Sindh and Luoyang Modern Biology Group of China for the distribution and supply of animal vaccines in Pakistan, including vaccines for Foot-and-Mouth Disease.
The agreement also includes provisions for technology exchange and future cooperation on introducing animal track-and-trace systems in Pakistan to improve livestock monitoring and disease control.
The agreement was signed by Sindh Senior Minister Sharjeel Inam Memon and Chairman of Luoyang Modern Biology Group Wang Shanpu.
During the event, a documentary was also screened highlighting the 75-year-long friendship between Pakistan and China, reflecting the deep-rooted strategic and cultural ties between the two countries.
A day earlier, President Zardari attended the commissioning ceremony of Pakistan Navy’s first Hangor-class submarine (PNS/M Hangor) in Sanya, which is equipped with advanced state-of-the-art weapon systems.
During his visit, which began on April 26, the president also held meetings with provincial leadership and reviewed the full spectrum of Pakistan-China relations, with a special focus on economic, trade, and CPEC cooperation, according to the Foreign Office.
The Foreign Office further stated that the visit is 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 added that the trip reflects the deep commitment of both sides to further strengthening their strategic cooperative partnership.