Pakistan, China sign US$200m agreements for seafood, steel and agri trade

China will invest US$200 million in Pakistan’s seafood, steel and agriculture sector to boost bilateral business between the two Asian neighbours.

Pakistani officials signed the Memorandums of Understanding (MoUs) for a total of 11 agreements with Chinese investors during their visit to Islamabad on Tuesday, according to commercial attaché at Chinese embassy.

By investing in Pakistan, Chinese companies can promote exports to South Asia, Middle East, Africa and many other destinations.

China is the world’s largest importer of agricultural products. In 2015, China imported $ 160 billion worth of agricultural products.

With a population of 1.3 billion people, China consumes almost $ 1 trillion worth of food every year. The domestic consumption is expected to grow by another $ 500 billion in the next 10 years.