USD440m pharma deals signed: PM assures China of protecting citizens, investment
ISLAMABAD: Prime Minister Shehbaz Sharif sought to reassure Beijing on Friday that Islamabad would take all possible measures to protect Chinese citizens working and investing in Pakistan, as companies from the two countries signed agreements worth around USD 440 million in the pharmaceutical and healthcare sectors.
The agreements were signed between Pakistani and Chinese pharmaceutical companies at the Pakistan-China Business-to-Business Investment Conference, marking another step towards expanding economic cooperation between the two countries.
Addressing the conference, the prime minister described the deals as a major opportunity to accelerate the growth of Pakistan’s pharmaceutical sector.
He said the partnerships would help strengthen the industry through investment, local manufacturing and joint research initiatives.
“The cooperation between Pakistani and Chinese companies in the pharmaceutical sector will provide new opportunities for growth and development,” he said, adding that the agreements reflected the growing economic partnership between the two countries.
Sharif welcomed the participation of Pakistani and Chinese investors, particularly the presence of around 300 Chinese delegates.
He praised the role of business communities from the countries, as well as government officials and diplomats, in facilitating the agreements.
He expressed hope that the commitments would quickly translate into implementation, creating tangible benefits for Pakistan’s healthcare and industrial sectors.
The agreements cover cooperation in local vaccine production, biotechnology development, pharmaceutical manufacturing, technology exchange, hepatitis prevention initiatives and collaboration related to Pakistan’s national immunisation programme.
The prime minister said the pharmaceutical sector offered significant investment potential and that cooperation in manufacturing, vaccine development and research and development could help transform the industry.
“Today presents a major opportunity for the development and investment in pharmaceuticals,” he said, highlighting the potential for both countries to collaborate across the healthcare value chain.
He described China as Pakistan’s “most reliable and tested friend”, saying Beijing had supported Islamabad during difficult periods and played an important role in the country’s economic development.
He said China had backed Pakistan at international forums and that investment under the first phase of the China-Pakistan Economic Corridor (CPEC) had brought around USD30 billion into Pakistan.
Sharif thanked the Chinese leadership for its continued support and praised President Xi Jinping as a “visionary leader” who had transformed China’s society and economy.
He said China’s development was a significant achievement, adding that progress in education, research and development and other fields reflected the dedication and hard work of the Chinese people.
“Pakistan-China friendship is higher than the Himalayas, sweeter than honey and stronger than steel,” he said.
The prime minister reiterated Pakistan’s commitment to ensuring the safety and security of Chinese citizens in the country, saying no effort would be spared in protecting them.
“Chinese citizens are our guests. Their happiness is our happiness,” he said, adding that their security remained among Pakistan’s highest priorities.
During his address, he also referred to recent regional tensions, saying the crisis had created serious challenges for the international community.
He said Pakistan had played a role in facilitating dialogue between the US and Iran, with support from friendly countries including China.
PM Shehbaz said the “Islamabad Memorandum of Understanding” between the US and Iran had been facilitated by Pakistan and thanked Chinese President Xi Jinping for supporting Islamabad’s diplomatic efforts.
Pakistan and Chinese companies sign multiple agreements:
Leading Pakistani and Chinese pharmaceutical and healthcare companies have signed multiple commercial agreements totaling USD446 million to boost industrial cooperation as a part of CPEC phase 2.0.
These documents were signed here on Friday during the Pakistan-China Pharmaceutical and Healthcare Business to Business (B2B) Investment Conference which was inaugurated by the Prime Minister of Pakistan and attended by over 450 Chinese and Pakistani companies, including 300+ leading Pakistani firms and 150 elite Chinese industrial groups.
Copyright Business Recorder, 2026