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Pakistani and Chinese companies signed MoUs worth over $7 billion on Sunday during a series of high-level engagements led by Prime Minister Shehbaz Sharif in the Chinese city of Hangzhou.

A major agreement signed during the conference on Sunday included a $1.12 billion deal between Haolu Engineering and Technology Company and Fauji Fertilizer for fertilizer production. Another MoU worth $100 million was signed between IBI Beijing United Information Technology and RIC for cooperation in the areas of agrochemicals, agricultural machinery and establishment of a regional office in Multan.

These covered a wide range of sectors. In the agricultural field, the two sides signed a protocol on inspection, quarantine and sanitary requirements for dried fruits and nuts, a protocol on phytosanitary requirements for corn, a memorandum of understanding on strengthening development cooperation in the agricultural sector and a letter of exchange on animal vaccines.