Illustration: Luo Xuan/GT

After the success of the first phase of the China-Pakistan Economic Corridor (CPEC), a total of 22 early harvest projects have been completed or are in the final stage of completion.  The first phase focused on power generation and infrastructure development. As a result, power shortages have been addressed and a network of motorways and highways has been completed. The fruits of the early harvest are felt deeply by the people of Pakistan.

The second phase will focus on agriculture, industrialization and the development of the social sector. Under this spirit, the "Pakistan-China Agricultural Cooperation Forum was held on Wednesday in Islamabad. The Forum was chaired by Pakistani President Arif Alvi and was attended by agricultural experts, members of the business community, senior officials and the general public from China and Pakistan. Subject specialists and leaders addressed the audience and shared their expertise and the latest information from relevant sectors. Experts from both countries identified the priority areas of cooperation - including poultry, fruits, vegetables, fertilizer and irrigation - and the utilization of hi-tech and ICT technologies in the agriculture sector.

Agriculture is the backbone of Pakistan and contributes to a major share of the national economy. Its contribution to GDP is 19.5 percent, and 42 percent of the country's total labor force is employed in the agriculture sector. 

Pakistan is self-sufficient in the production of staple foods, livestock and dairy. However, economic access and utilization persist as the major limiting factors for household-level food and nutrition security. 

Addressing these challenges has been identified as an area of prime focus by the government of Pakistan. The growth in agriculture not only results in an enhanced supply of raw materials to agriculture-based industries like textiles, sugar and food processing, but also generates demand for industrial goods and services. The improved performance of agriculture is due to various government measures to enhance agricultural products, like supporting the price for production, a significant increase in credit, better arrangements for the provision of inputs like seeds, fertilizers and insecticides, and better arrangements for marketing.

The current Pakistani government is well aware of the importance of agriculture and its issues, and has formulated incentive-based policies for the rapid development of this sector. China has rich experience in developing its own agricultural sector. The highest contribution to the eradication of poverty in China was agricultural reform. China has, in the past, been in short supply of food. But due to the introduction of agricultural reforms, the situation improved rapidly. China evolved into a net exporter of agricultural produce and a major source of foreign reserves. It not only met domestic demand, but also began exports. 

Pakistan welcomes Chinese entrepreneurs to collaborate in the agriculture sector. Pakistan possesses an ideal climate for agriculture with plenty of water and a well-organized irrigation system. Vast lands are available for cultivation with a hard-working labor force, and there are policies which may be attractive for Chinese entrepreneurs. Opportunities for Chinese investors are abundant and the potential to make good profits is unlimited.

Collaboration in the agriculture sector will ensure maximum profit for Chinese entrepreneurs and will help Pakistan to create a bigger job market, eradicate poverty and uplift the economy for the general public. Collaboration between China and Pakistan in the agriculture sector will become an ideal, "win-win" cooperation which will benefit both China and Pakistan. It will also boost the evergreen friendship that already exists between the two "iron brothers."

I hope more Chinese entrepreneurs will visit Pakistan and establish joint ventures at their earliest convenience. This is the right time to enter into the agriculture business with Pakistan, before it becomes saturated with tough competition. Be the first and enjoy a lifetime of benefits.

The author is a sinologist, a non-resident fellow with the Center for China and Globalization and researcher with the Chinese Studies Center of Excellence, National University of Sciences and Technology (NUST), Islamabad, Pakistan. bizopinion@globaltimes.com.cn