Pakistan and China have signed joint ventures (JVs) worth $601.25 million during the 2nd Pakistan-China B2B Investment Conference held in Beijing on September 4. The agreements were made during Prime Minister Shehbaz Sharif’s official visit to China.
According to media reports, among the major agreements, Hitech Technological Concern of Pakistan partnered with Weichai Lovol Intelligent Agricultural Technology Company of China in a $500 million JV. This venture aims to modernize agricultural machinery and introduce smart farming solutions, significantly advancing agricultural practices in Pakistan.
In another deal, IMGC signed a $100 million JV with Zhongzhihui Agriculture Development, focusing on boosting crop development and facilitating technology transfer between the two countries.
Additionally, Buraq Tractors entered into a $1.25 million agreement with Xinyukun (Chongqing) Industry and Trade Co, Ltd to strengthen localized tractor manufacturing and after-sales services in Pakistan.
These joint ventures mark a major step towards enhancing the agricultural sector in Pakistan through modernization and technology-driven solutions, with both countries looking to benefit from deeper economic ties in the field of agriculture.
