ISLAMABAD: Pakistan and China have signed agreements valued at $440 million to boost collaboration in the pharmaceutical industry. These agreements were formalized during a Pakistan-China Business-to-Business investment conference held in Islamabad.

According to Radio Pakistan, the accords were signed between Pakistani and Chinese pharmaceutical companies with an aim to enhance the manufacturing of life-saving medicines and vaccines. Prime Minister Shehbaz Sharif, addressing the conference, emphasized the potential of these agreements to evolve into practical projects under the China-Pakistan Economic Corridor (CPEC) 2.0. He highlighted the presence of approximately 300 Chinese delegates as a testament to the enduring commitment of both nations towards expanding their economic and commercial partnerships.

The Prime Minister noted that the collaboration is expected to strengthen research and development in the pharmaceutical sector and position Pakistan as a regional hub for pharmaceutical exports. He also addressed the broader regional dynamics, mentioning Pakistan’s role in facilitating dialogue between the United States and Iran amidst ongoing geopolitical tensions.

Reaffirming the safety of Chinese nationals in Pakistan, Sharif assured that the protection of Chinese citizens remains a top priority for his government. He committed to ensuring their security, recognizing them as esteemed guests and partners in Pakistan’s development journey.

At a subsequent news conference, Minister for National Health Services Mustafa Kamal expressed optimism that these agreements would foster job creation, technology transfer, and open new market avenues for Pakistan. Special Assistant to the Prime Minister on Industries and Production, Haroon Akhtar Khan, highlighted Pakistan’s macro-economic stability and its ambition to become a manufacturing hub.