Islamabad: Pakistan and Chinese private companies on Friday signed nine pharmaceutical agreements worth more than $440 million, paving the way for local vaccine production, biotechnology collaboration, technology transfer and medicine manufacturing in one of the largest bilateral healthcare investment initiatives between the two countries.
The agreements were signed during the inaugural day of the Pakistan-China Pharmaceutical Business-to-Business (B2B) Investment Conference in Islamabad, attended by Prime Minister Shehbaz Sharif, federal ministers, senior government officials, the Chinese ambassador, and representatives of more than 450 pharmaceutical companies, including over 300 Pakistani and 150 Chinese firms.
The memorandums of understanding cover local manufacturing of vaccines, biotechnology, pharmaceutical production, technology transfer and hepatitis prevention initiatives. Another agreement was signed to strengthen cooperation under Pakistan’s Expanded Programme on Immunization (EPI).
Officials said the agreements are expected to increase local production of medicines, vaccines and medical devices, reduce Pakistan’s reliance on imports, create new employment opportunities and position the country as a regional pharmaceutical manufacturing hub.
Addressing the inaugural session, Prime Minister Shehbaz Sharif welcomed the agreements and expressed confidence that collaboration between Pakistani and Chinese private companies would accelerate the development of Pakistan’s pharmaceutical industry.
He described China as Pakistan’s “most trusted and time-tested friend,” saying Beijing had stood by Islamabad during every difficult period and had played a pivotal role in Pakistan’s economic development. He noted that Chinese investment of around $30 billion under the first phase of the China-Pakistan Economic Corridor (CPEC) had significantly contributed to the country’s infrastructure and economic growth.
The prime minister thanked the Chinese leadership, particularly President Xi Jinping, for China’s unwavering support to Pakistan at international forums and praised China’s transformation in education, research, innovation and industrial development.
Highlighting the potential of the pharmaceutical sector, Shehbaz Sharif said the agreements in manufacturing, vaccine production, research and development and biotechnology would open new avenues for investment, technology transfer and industrial cooperation.
He also assured Chinese investors that Pakistan would leave no stone unturned in ensuring the safety and security of Chinese nationals working in the country.
“Chinese citizens are our honoured guests. Their safety is our highest priority, and their happiness is our happiness,” the prime minister said while welcoming nearly 300 Chinese delegates participating in the conference.
Referring to recent regional developments, Shehbaz Sharif said Pakistan had played an important diplomatic role during the recent tensions involving the United States and Iran, adding that friendly countries, including China, had supported Islamabad’s efforts.
He said Pakistan had acted as a mediator in what he described as the “Islamabad Memorandum of Understanding” between Washington and Tehran and praised Chief of Army Staff Field Marshal Syed Asim Munir and Deputy Prime Minister and Foreign Minister Senator Ishaq Dar for their diplomatic efforts.
Prime Minister’s Special Assistant on Industries and Production Haroon Akhtar Khan said China had consistently remained Pakistan’s leading investment partner and claimed Chinese investors were preparing for around 700 additional investment agreements in Pakistan.
He said investment commitments worth around $500 million had already been concluded between the two countries and described Pakistan as an emerging manufacturing hub.
Haroon Akhtar said Prime Minister Shehbaz Sharif’s recent visit to China had opened a new chapter in bilateral economic cooperation by creating fresh opportunities for investment, industrial collaboration and technology transfer.
Chinese Ambassador Jiang Zaidong reaffirmed Beijing’s commitment to strengthening cooperation with Pakistan in healthcare, biotechnology, research, local manufacturing and capacity building.
He said demand for healthcare services in Pakistan was increasing steadily and the country offered enormous potential for investment in pharmaceuticals and biotechnology.
The ambassador revealed that 29 Pakistani pharmaceutical products had already entered the Chinese market and said China would continue facilitating stronger business linkages between companies of both countries.
He also noted that multiple Chinese-funded projects currently under implementation in Pakistan were expected to create more than 20,000 jobs, adding that Prime Minister Shehbaz Sharif was giving special attention to healthcare and biotechnology.
Speaking at a joint press conference later, Federal Health Minister Syed Mustafa Kamal described the conference as a milestone for Pakistan’s pharmaceutical sector.
He said all six major segments of the pharmaceutical industry were represented at the conference, making it one of the country’s most comprehensive international healthcare investment events.
The health minister said around 170 Chinese delegations participated in the conference and disclosed that pharmaceutical agreements worth approximately $100 million were being finalised during the event.
Mustafa Kamal said extensive coordination had taken place over the past six weeks between Pakistan’s Ambassador to China Khalil Hashmi, the Drug Regulatory Authority of Pakistan (DRAP), the Ministry of National Health Services and other relevant institutions to ensure the conference’s success.
He termed the event a “game changer” for Pakistan, saying it showcased the country’s investment potential, strengthened its global image and would help the pharmaceutical industry gain access to new international markets through technology transfer.
The minister added that transfer of advanced pharmaceutical technologies would also generate skilled employment and improve Pakistan’s capacity to manufacture high-value medicines locally.
To facilitate investors, special help desks established by DRAP, the Board of Investment (BOI) and the Special Investment Facilitation Council (SIFC) provided on-the-spot regulatory guidance, licensing support and investment facilitation throughout the conference.
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