Daily Times

China’s agriculture company eyes industrial cooperation with Pakistan in development of chilli industry, according to China Economic Net (CEN)

“Pakistan is a resource-rich country, while we have resources and experience in manufacturing and industry management. It would be a good complement.

That’s why we’re gonna invest in the chilli industry in Pakistan,” said Li Zhimin, chairman of Qingdao Lulu Agricultural Equipment Co., Ltd., China.

According to CEN, Mr. Li as business representative from Jiaozhou, Qingdao met with a delegation led by Pakistani Ambassador to China Moin-ul-Haque in April when 2021 SCO International Investment and Trade Expo & SCO Qingdao Forum on Local Economic and Trade Cooperation was held. Both sides carried on discussions on chilli cooperation and bilateral investment and finalized the details of the company’s future investment in Pakistan and reached a strategic cooperation agreement.

According to Qingdao Lulu Agricultural Equipment Co., relevant departments of Pakistan and it will jointly construct a “Pakistan China chilli Industrial Park”, with a proposed location to be Lahore or Karachi.

Li signalled their intention to invest up to $10 million in “Pakistan-China Pepper Industrial Park”, which will cover an area of 6.67 hectares. “It will be completed in two phases. Pakistani chillies will be processed into chilli powder, chilli paste and other products and sold in China, Middle East, Europe and the United States and other markets,” Li told China Economic Net.