ISLAMABAD, Oct 12, (Gwadar Pro) – Pakistani and Chinese companies have recently signed a memorandum of understanding (MoU) for the processing, value addition and export of dry fruits, targeting an annual value of up to $500 million, with a focus on pine nuts and pistachios.

The news was shared on Friday by the Special Investment Facilitation Council (SIFC), the one-window investment facilitation body of the Government of Pakistan.

The agreement between Pakistan’s Teranevo Trading Ltd. and China’s Zhejiang HEZI Food Co. Ltd. comes with support and facilitation of SIFC and collaborative efforts from all stakeholders, SIFC said.

This collaboration will enhance Pakistan’s market access, and open new markets for high-quality dry fruits in the wake of growing demand from China, SIFC added.

The partnership is expected to boost economic activity and generate employment opportunities for people of North and South Waziristan districts of Khyber-Pakhtunkhwa (KP) province, two districts celebrated for their production of high-quality pine nuts and fresh fruits.

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