Pakistan’s Ambassador to China Khalil Hashmi on Monday said Islamabad and Beijing have made significant progress in strengthening bilateral economic cooperation, with more than 300 Memorandums of Understanding and over three dozen joint venture agreements signed during the last two years, carrying a cumulative value exceeding $13 billion.
Speaking at a meeting between a 70-member delegation from China’s IBI Group and the Karachi Chamber of Commerce and Industry (KCCI), he maintained that the MoUs are an initial step, while the Government of Pakistan has established a comprehensive mechanism to ensure their effective implementation and conversion into practical business agreements. He said Pakistan’s realization rate from MoUs to formal contracts and agreements has reached nearly 30%, reflecting the effectiveness of the government’s structured follow-up and execution framework.
Highlighting emerging opportunities in the energy and technology sectors, the envoy said Pakistan is currently engaged in active discussions with CATL, one of the world’s largest battery manufacturers specializing in lithium-ion and sodium-based battery technologies. He said Pakistan is encouraging the company to establish cooperation and investment initiatives in the country, expressing optimism that concrete developments may emerge during the forthcoming visit of the prime minister to China.
He said the global market is gradually shifting from lithium-ion batteries toward sodium-based battery technologies, adding Pakistan possesses abundant raw materials required for such industries. He emphasized that Pakistan aims to capitalize on the first-mover advantage in this evolving sector and is working steadily toward attracting investment in advanced battery manufacturing and new energy technologies.
Speaking on the occasion, IBI Group Director Liu Junzhai said Karachi possesses immense potential to emerge as a leading regional hub for digital trade and smart industrial transformation, owing to its strategic maritime position, industrial ecosystem, and strong business community. Karachi is not only the commercial capital of Pakistan but also one of South Asia’s most important maritime gateways, she said, serving as the center of industrial, financial, and global trade activities and acting as the beating heart of Pakistan’s economy.
She said she saw Karachi as representative of not just present-day Pakistan, but also its future, adding the IBI Group highly values the opportunity to establish a long-term and strategic partnership with the Karachi Chamber. She noted the IBI Group is one of China’s leading industrial internet and digital trade platforms and is publicly listed on the Shanghai Stock Exchange. She said the company has been deeply engaged in industrial digitalization and industrial e-commerce for many years and has achieved remarkable growth in recent years.
Businessmen Group Chairman Zubair Motiwala said the visit of the high-level delegation to the Karachi Chamber reflects the deep-rooted friendship, strategic trust, and expanding economic partnership between Pakistan and China. He said the relationship between the two countries has evolved into a strong model of economic, industrial, and development cooperation based on mutual trust, shared prosperity, and strategic collaboration.
He stressed the business community of Karachi highly values the confidence shown by Chinese enterprises in Pakistan’s economy and future potential. He further noted that the MoU being signed between Karachi Chamber and IBI Group would open new avenues of institutional connectivity, investment partnerships, trade promotion, technology transfer, and industrial collaboration between the business communities of both countries.
The BMG chairman further said that despite global economic uncertainties and supply chain disruptions, bilateral trade between the two countries continues to grow steadily and has reached approximately $23-28 billion, reflecting the strength and growing integration of the relationship. He noted that Pakistan’s exports to China stood at approximately $2.3-2.8 billion during 2025, while imports from China exceeded $20 billion. However, he emphasized, Pakistan remains concerned about the widening trade imbalance between the two countries, as Pakistan imports more than eight times the volume it exports to China.
He stressed the need to transform bilateral relations from a conventional import-export model towards joint manufacturing, industrial cooperation, technology transfer, value addition, and export-oriented investment. He reiterated that the KCCI remains fully committed to facilitating Chinese investors and promoting ease of doing business in Pakistan. He also described the China-Pakistan Economic Corridor (CPEC) as the flagship project of China’s Belt and Road Initiative, which has transformed Pakistan’s infrastructure and energy landscape.
Motiwala said the next phase of CPEC should focus more aggressively on industrial cooperation, Special Economic Zones, manufacturing relocation, technology partnerships, agriculture modernization, renewable energy, and the digital economy. He also discussed renewable energy cooperation, noting Pakistan’s industrial sector is rapidly shifting toward renewable and sustainable energy solutions due to rising electricity costs and energy security concerns. He pointed out that Pakistan has emerged as one of the fastest-growing solar markets globally, largely supported by imports of Chinese solar technologies and equipment. He stressed that Chinese expertise in solar energy, wind power, battery storage systems, smart grids, and industrial energy solutions could play a transformative role in supporting Pakistan’s clean energy transition.
On agriculture and food sectors, Motiwala said agriculture remains the backbone of Pakistan’s economy and offers substantial untapped potential for bilateral cooperation. He stated that Pakistan could significantly increase exports of rice, halal meat, seafood, fruits, sesame, dairy products, and processed foods to China, particularly in view of the growing demand created by China’s expanding middle class.
KCCI President Rehan Hanif, meanwhile, warmly welcomed the IBI Group delegation, saying it was a matter of immense pleasure and significance that IBI Group had chosen Pakistan for the formal launch of its Pakistan Digital Economy Headquarters. He described the initiative as a reflection of the deep-rooted friendship, strategic partnership, and expanding economic cooperation between Pakistan and China.
He noted that at a time when global economies are rapidly transitioning towards digital transformation, smart manufacturing, A.I.-driven commerce, and technology-enabled supply chains, Pakistan offers tremendous opportunities for strategic collaboration and investment. He added that Karachi, being Pakistan’s largest industrial, financial, and maritime center, serves as an ideal gateway for Chinese investors and enterprises seeking sustainable and mutually beneficial partnerships.
The IBI Group and KCCI signed a MoU forge strategic partnership to promote digital economy and industrial development.