Pakistan and China have signed a deal to boost trade and investment in special economic zones (SEZs).
The National Bank of Pakistan (NBP) and China-Pakistan International Silk Road Industry Investment Management Company Ltd signed a Memorandum of Understanding (MoU) to boost investment in critical projects, foster industrial cooperation, promote the establishment of SEZs and streamline bilateral trade.
Pakistani Economic Minister Aslam Chaudhary said SEZs are currently being established across Pakistan for Chinese firms set up shop in the country and help the export of products to various countries.
The move allows Chinese businesses to take advantage of preferential trade agreements that Pakistan has signed with many nations.
Chaudhary highlighted that Pakistan, with a population of over 225 million, represents a significant market in itself, with lucrative opportunities for Chinese companies.
He also stressed that the government's focus on industrialization in the second phase of the China-Pakistan Economic Corridor (CPEC) paves the way for opportunities across different sectors.