Ambassador Khalil Hashmi says more than 300 MoUs and over 36 joint venture agreements signed as Pakistan discusses battery sector cooperation with CATL
Pakistan’s Ambassador to China Khalil Hashmi said on Monday that Pakistan and China had signed more than 300 memorandums of understanding and over three dozen joint venture agreements worth more than $13 billion during the last two years.
Speaking during a meeting held at the Karachi Chamber of Commerce and Industry (KCCI) during the visit of a 70-member delegation from IBI Group of China, the ambassador said the government had established a mechanism to ensure effective implementation of MoUs and their conversion into business agreements.
He said Pakistan’s conversion rate from MoUs to formal contracts and agreements had reached nearly 30%, which reflected the effectiveness of the government’s follow-up framework.
According to a KCCI statement, Khalil Hashmi also said Pakistan was engaged in discussions with CATL, one of the world’s largest battery manufacturers specialising in lithium-ion and sodium-based battery technologies.
He said Pakistan was encouraging the company to initiate investment and cooperation projects in the country and expressed hope that progress could be achieved during Prime Minister Shehbaz Sharif’s upcoming visit to China.
The ambassador said global markets were gradually shifting towards sodium-based battery technologies and added that Pakistan possessed the raw materials required for such industries.
He further said Pakistan was planning to organise an export promotion exhibition in China covering more than 18 sectors representing key areas of the Pakistani economy and export potential.
Liu Junzhai said Karachi had the potential to become a regional hub for digital trade and industrial transformation because of its maritime location, industrial base and business community.
She said IBI Group viewed Karachi as an important long-term partner for future cooperation.
Chairman of the Businessmen Group Zubair Motiwala said the MoU signed between KCCI and IBI Group would support trade promotion, investment partnerships, technology transfer and industrial cooperation between businesses in both countries.
The Chinese delegation also visited the Federation of Pakistan Chambers of Commerce and Industry.
