iTANZ signs $45 million technology MoUs during PM Shehbaz Sharif’s China visit

iTANZ Technologies Limited has signed a series of memorandums of understanding (MoUs) with Chinese technology firms during Prime Minister Shehbaz Sharif’s visit to China, identifying potential business opportunities worth approximately $45 million (around ₨12.5 billion).

According to a company statement, the PSX-listed technology firm was part of the official delegation accompanying the prime minister on his visit aimed at strengthening Pakistan-China economic and strategic cooperation.

Chief Executive Officer Syed Asim Zafar represented iTANZ Technologies in Hangzhou, where the delegation held business-to-business meetings with Chinese technology and innovation companies.

During the visit, iTANZ signed MoUs with Zhejiang Xiangyue Group, Suzhou Xuqing Intelligent Technology Co., Ltd., and Shanghai Shuhai ZhiLian Digital Technology Co., Ltd.

The agreements cover cooperation in artificial intelligence, robotics, digital platforms, technology transfer, offshore software services and joint market development.

The company stated that the MoUs “establish a framework for strategic cooperation” and identify opportunities with an aggregate indicative value of approximately $45 million.

It clarified that the indicative value reflects the estimated scale of opportunities currently being pursued and remains subject to definitive agreements, commercial negotiations, due diligence and regulatory approvals.

According to the disclosure, the delegation visit provided a platform for enhancing cross-border cooperation in technology, investment and digital transformation between Pakistan and China.

The development comes as Pakistan seeks to expand technology partnerships with Chinese firms and attract investment into emerging sectors, including artificial intelligence, software services and digital infrastructure.