Beijing: Pakistani and Chinese companies have signed memoranda of understanding valued at approximately $250 million to enhance trade in the medical and surgical sectors. The agreements were finalized at the China-Pakistan B2B conference focusing on medical equipment and surgical instruments held in Beijing.

According to a statement by Ministry of Information and Broadcasting, the collaboration aims to attract more Chinese companies to engage in trade and establish joint ventures in Pakistan’s medical instrument sector. The initiative is expected to strengthen ties between the two countries in the medical field and boost economic growth in Pakistan.

Speaking to China Economic Net, Chief Technology Officer Sunny Yang emphasized Pakistan’s competitive advantages, including a vast market, tax incentives, and standards that align with European regulations, which make it an attractive destination for international investment.

Pakistan’s ambassador to China, Khalil Hashmi, underscored the growing potential of the medical industry in Pakistan, noting its current valuation of over $600 million. He also announced plans for the fourth Health, Engineering, and Minerals Show to be held in Lahore from April 17, which is expected to further promote the sector.