Pakistan and China have further expanded their economic cooperation in the form of 32 MoUs. The MoUs were signed during Prime Minister Shahbaz Sharif's visit to China, which is ongoing with regard to participation in the Pakistan-China Business Forum.

Mian Shahbaz Sharif arrived in Beijing on the second day of his five-day visit to China on June 5, where he had meetings with Chinese President Xi Jinping and other top leaders and signed a ceremony on trade and investment agreements in various sectors.These agreements to increase trade and investment have far-reaching benefits and consequences due to their universality. From the titles of the MoUs and other indications, it is clear that cooperation will increase in many sectors including energy, automobile, IT, pharmaceuticals. Chinese companies have also expressed interest in investing in electric bikes, modern agriculture in Pakistan while two lakh Pakistani youth will be trained in artificial intelligence.

The prospects for trade growth in the fields of electronics, home appliances, textiles, leather, jewelry, minerals have been highlighted. In this context, the statement of Prime Minister Shehbaz Sharif is of special importance that he has not traveled for a loan, but for business and development. This statement makes clear the direction of Islamabad's new strategy. In his address to the China-Pakistan Business Conference in Shenzhen, China, Shahbaz Sharif also said that China's development is exemplary for all. He repeatedly advised Pakistani companies to adopt the Chinese model and present their products to the world in a better way. In this regard, he said that the government will fully cooperate with companies adopting the Chinese model. Shahbaz Sharif termed the holding of the business conference as a source of golden opportunities for Pakistan and advised Pakistani businessmen to look for joint investment opportunities with their Chinese counterparts. He said that Pakistan's mineral resources are worth 10 trillion dollars. while our export volume is only 30 billion dollars. The way to improve in this situation is to adopt the Chinese model. It is clear from the Prime Minister's statement that the government has already started structural changes in this regard. While the Belt and Road Initiative is a guarantee of development. He asserted that foolproof security will be provided to Chinese residents in Pakistan. The Prime Minister also visited the headquarters of the Huawei Company and the Chinese Museum and encouraged the company to establish Safe City projects in various cities of Pakistan, especially in cities where CPEC projects are being worked on. It is clear from the Prime Minister's speech that the government is taking steps to digitize government offices on a priority basis. Tax system and e-governance are also being given attention.There are vast opportunities for Chinese companies in these sectors. Prime Minister Shehbaz Sharif's visit to China is ongoing at a time when Pakistan-China Economic Corridor is entering the second phase. This phase not only paves the way for the continuation of the already decided projects but also lays the foundation for new projects. At a time when new avenues of investment are opening up in the form of 32 agreements, many initiatives including eradication of corruption, prevention of smuggling have become necessary and are being addressed. It should be expected that the coming months and years will see progress in several directions, including an increase in investment and trade between Pakistan and China.

China is time-tested friend and the trade parleys between the two are increasing. Recently, to further strengthen the CPEC Phase 2 Pakistan-China agricultural cooperation, China Machinery Engineering Corporation, Pakistan signed an agreement for contract farming of the first sesame crop of 2024 with Joya Agricultural Farm of Faisalabad (Tandlianwala). The agreement was unveiled at Joya Agricultural Farm in which China Machinery Engineering Corporation, Pakistan Deputy General Manager Mr. Dai Bao, Senior Commercial Manager Mr. Alan Xi, Commercial Manager Mr. Jerry Liu, Professor Dr. Zhang Lixin of China Northwest University, officers and agricultural scientists of Ayub Agriculture Research Institute Faisalabad, officers of Oilseed Research Institute, officials of Pakistan Trade Development Authority and State Bank of Pakistan participated. The most important thing about China's revolutionary contract farming is that the Chinese company fixes the price of the crop with the Pakistani farmer before the crop is sown and according to the contract, even if the market suffers from downturn or some other problems. However, the farmer gets the fixed price of the crop in all cases. The recent wheat crisis has put farmers' lives in dire financial straits, but China's contract farming projects have given new hope to farmers.The Pak-China friendship is also exceptional and the same has started reflecting in business ties as well with the recent endevaouars. Recently economic and financial experts gave a similar talk in the symposium organized in connection with the Third Belt and Road Forum, which was organized by the Chairman of the Institute of International Relations and Media Research. Speaking on the occasion, the Chairman of Institute of International Relations and Media Research,  submitted that there is no doubt that the friendship between Pakistan and China is higher than mountains, deeper than seas and sweeter than honey, but it is yet to be even higher. There is scope for deepening and steps have been taken towards this in the Third BRF Forum.

And along with this, more such measures have been taken in Pakistan which will further strengthen the economic relations between the two countries. For the development of these economic relations, it is necessary to increase the cultural ties between the two countries, to make Urdu and Chinese language common in both countries, and especially for those people who are connected with each other in matters of trade, education, etc.  Similarly, the Chinese in Pakistan are facing difficulties in terms of food, supply of their authentic Chinese spices and this is a problem that needs to be solved immediately. The security issue of the Chinese in Pakistan should also be taken notice of. There should not be any delay because the protection of the foreigners in the country is the most important part of the national dignity.

The good thing is that the revolutionary nature project ML-1 in Pakistan Railways, which unfortunately could not be started yet, is set to see the light of day as work to start on this project.