BEIJING, June 11 (Gwadar Pro) - In a significant move towards strengthening economic ties between Pakistan and China, leading enterprises from both countries Henan Ruzhou Ideal Starch and KASB Corporation of Pakistan, signed a Memorandum of Understanding (MoU) on Monday to construct a state-of-the-art potato starch plant in Pakistan. This strategic partnership aims to leverage the abundant potato resources available in the region and cater to the growing demand for this versatile agricultural product, said Ghulam Qadir Trade and Investment Counsellor at Embassy of Pakistan in China.

Ghulam Qadir Trade and Investment Counsellor said after the fruitful visit of Prime Minister of Pakistan Mian Muhammad Shehbaz Sharif to China, business-to-business collaboration is enhancing. This MoU will harness the expertise and technological prowess of the Chinese partners, ensuring the efficient and sustainable production of high-quality potato starch. This venture is expected to not only bolster Pakistan's agricultural sector but also contribute to the region's overall economic development.

According to the MoU between the two enterprises memorandum of understanding will provide a new cooperation mechanism for both parties, covering knowledge sharing, technology transfer, capacity building, project management, and investment promotion in the fields of agriculture and processed products.

MoU further describes that both parties fully utilize the years of experience accumulated in the fields of agriculture and processed products, leveraged by the currently favorable bilateral business environment between China and Pakistan, to pledge to the project landing in Pakistan.

Henan Ruzhou Ideal Starch and KASB Corporation of Pakistan will work hard together to become the first successful potato deep processing project cooperation between China and Pakistan.

This article originally appeared on Gwadar Pro.