PM Shehbaz Sharif’s China Visit Expected to Bring Over $5 Billion in Agreements
Shehbaz Sharif is set to visit China from May 24 to May 26, where Pakistan and China are expected to sign more than 100 agreements and memorandums of understanding (MoUs) valued at nearly $5 billion, according to informed sources.
Officials familiar with the preparations said that around 90 percent of the planned agreements will be business-to-business partnerships, while the remaining deals will involve cooperation between government institutions and private companies. Preparations for the signing ceremonies have reportedly been finalized.
During the visit, Prime Minister Shehbaz Sharif is expected to hold important meetings with the Chinese president and premier. Discussions are likely to focus on the evolving regional situation, economic cooperation, and expanding strategic ties between Islamabad and Beijing.
The upcoming agreements are expected to cover a wide range of sectors, including agriculture, poultry farming, dairy production, fruit and vegetable processing, animal vaccines, fisheries, cold chain systems, fertilizers, seeds, agricultural chemicals, information technology, fintech, e-commerce, cloud computing, telecommunications, and industrial development.
Additional agreements are also expected in the manufacturing sector, particularly involving mobile phone and laptop batteries, electric vehicle components, and EV charging and storage technologies.
Sources said the Pakistani government has formed a high-level monitoring committee under Special Assistant to the Prime Minister Haroon Akhtar Khan to oversee the implementation and progress of all agreements on a weekly basis.
Several senior cabinet members, including the ministers for energy, petroleum, IT, food security, and industry and production, are expected to accompany the prime minister during the visit.
Representatives from Pakistan’s private sector will also travel to China to participate in business-related meetings and signing ceremonies. The prime minister is scheduled to attend a major business-to-business MoU signing event on May 24, while high-level meetings in Beijing are planned for May 25. The visit is expected to conclude on May 26, after which the prime minister will return to Pakistan.
Sources added that preparations for the China visit have also affected Pakistan’s federal budget schedule. The next federal budget is now likely to be presented on June 5, while the Economic Survey is expected to be released on June 4.
Officials further stated that a meeting of the National Economic Council may be held on June 3 after the prime minister’s return from China. A senior bureaucrat, speaking on condition of anonymity, said that both Prime Minister Shehbaz Sharif and the Chinese leadership are expected to personally monitor the progress of the business agreements signed during the visit.