CPEC Phase-II begins with new agreements between Pakistan, China

The second phase of the China Pakistan Economic Corridor has been started with the signing of several new agreements between Pakistan and China, particularly in agriculture and industry.

These agreements are aimed at improving the quality productivity of agricultural and industrial sectors.

Pakistan’s International Innovation Park Limited and China National Cereals, Oils and Foodstuffs signed an agreement worth 400 million dollars in the agricultural sector in Beijing.

Under this agreement, many Pakistani products will get duty-free access to the global market.

A Memorandum of Understanding has also signed for digital transformation and supply chain optimization in two hundred textile factories to enhance cooperation in the textile sector.