Pakistan-China B2B meeting drives $64m in fisheries investments

KARACHI: Agreements totalling $64 million were signed at the inaugural Pakistan-China business-to-business (B2B) investment meeting on fisheries, held in Qingdao, China, on Tuesday.

Sponsored by the Trade Development Authority of Pakistan (TDAP), the first-ever investment meeting marked the beginning of a series of sector-specific meetings designed to promote joint ventures and partnerships between Pakistani and Chinese companies.

The meeting followed Prime Minister Shehbaz Sharif’s visit to China in June 2024, aimed at strengthening trade and investment ties between the two countries. Forty-five Chinese companies and 28 Pakistani firms participated in the event.

In his remarks, Sun Huanjiang, a member of the CPC committee from the Qingdao municipal marine development bureau, highlighted the enduring ‘all-weather cooperative’ partnership between Pakistan and China. He affirmed China’s commitment to enhancing scientific and technological exchanges, industrial collaboration, trade and investment to support Pakistan’s blue economy initiatives.

Board of Investment Secretary Rahim Hayat Qureshi praised the robust cooperation between Pakistan and China across various sectors. He encouraged deeper collaboration between businesses from both countries to create mutually beneficial opportunities.

Qureshi also delivered a detailed presentation on Pakistan’s fisheries sector, outlining government incentives available to Chinese investors.

Pakistan’s ambassador highlighted the country’s extensive marine resources, inviting Chinese companies to capitalize on Pakistan’s abundant natural assets, affordable labour and strategic location. He advocated for long-term partnerships in areas such as aquaculture, food processing and export development.

The meeting concluded with the signing of 11 memoranda of understanding (MoUs) and one contract between Pakistani and Chinese companies, amounting to $64 million. An MoU was also signed between the Pakistan Fishery Exports Association and the Seafood Specialized Committee of China to further promote B2B exchanges, joint ventures and trade in the fisheries sector. This meeting is the first of the six planned events aimed at fostering business-to-business dialogue and expanding trade and investment between Pakistan and China.

Following this event, 20 Pakistani seafood companies will participate in the upcoming China Fisheries & Seafood Exhibition (CFSE) under the TDAP platform.