Pakistan, China seal $440m pharma deals to power healthcare, biotech partnership

• Nine agreements, MoUs signed covering vaccines, biotechnology, drug manufacturing and technology transfer

• PM Shehbaz witnesses accords as over 450 firms participate in high-level B2B investment conference

• Chinese envoy says joint projects to create 20,000 jobs; 29 Pakistani pharmaceutical products enter Chinese market

• Haroon Akhtar says Chinese investors preparing pipeline of around 700 agreements under expanding CPEC 2.0 cooperation

 ISLAMABAD: Pakistan and China further deepened their strategic economic partnership on Saturday as pharmaceutical companies from both countries signed nine agreements and Memorandums of Understanding (MoUs) worth more than $440 million, paving the way for cooperation in local vaccine production, biotechnology, drug manufacturing, technology transfer and hepatitis prevention, in a major boost to bilateral investment and healthcare collaboration, China Economic Net (CEN) reported.

A separate cooperation agreement aimed at supporting Pakistan's national immunization programme was also signed during the Pakistan-China B2B Investment Conference on Pharmaceutical, Healthcare and Biotechnology held in Islamabad. The event was witnessed by Prime Minister Muhammad Shehbaz Sharif and Chinese Ambassador to Pakistan Jiang Zaidong.

The conference marked the culmination of nearly two months of structured business matchmaking initiated after Prime Minister Shehbaz Sharif's recent visit to China. Officials from Pakistan's Ministry of National Health Services, the Drug Regulatory Authority of Pakistan (DRAP) and the Pakistan Embassy in Beijing had pre-identified and paired companies from both countries, enabling participating firms to hold consultations weeks before formal negotiations began.

More than 450 companies participated in the B2B conference, including over 300 Pakistani pharmaceutical, healthcare and biotechnology firms, alongside around 150 Chinese companies represented by nearly 180 delegates.

To facilitate investment outcomes, the conference venue included dedicated bilateral meeting rooms and special MoU facilitation desks, enabling participating companies to translate business discussions into signed agreements on the spot.

Pakistani diplomats said bilateral cooperation had been structured around seven priority investment areas supported by data-driven investment pitch books. These included Active Pharmaceutical Ingredients (APIs) to reduce Pakistan's dependence on imported raw materials; biotechnology products; human and veterinary vaccines under Pakistan's newly approved National Vaccine Policy; medical devices; specialized generic formulations and injectables; clinical trials and research; as well as traditional herbal and nutraceutical products.

Throughout the conference, the emphasis remained on commercially viable joint ventures, contract manufacturing partnerships and meaningful technology transfer rather than one-off trade transactions—a model both countries view as the cornerstone of the next phase of industrial cooperation under CPEC 2.0.

Addressing the conference, Ambassador Jiang Zaidong said the ongoing joint projects were expected to generate more than 20,000 jobs in Pakistan. He also noted that 29 Pakistani pharmaceutical products had already entered the Chinese market.

The Chinese envoy reaffirmed that the Chinese Embassy would continue serving as a bridge between enterprises of both countries while urging Chinese companies to strictly comply with Pakistan's regulatory standards.

The growing momentum in bilateral industrial cooperation extends beyond Saturday's agreements. Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan said Chinese investors were preparing a pipeline of around 700 agreements in Pakistan. He added that the government was simultaneously reforming the National Industrial Policy and National Tariff Policy to create a more competitive, investor-friendly environment capable of attracting greater Chinese investment in technology and manufacturing.

The two-day conference was jointly organized by the Special Investment Facilitation Council (SIFC), the Ministry of National Health Services, Regulations and Coordination, the Drug Regulatory Authority of Pakistan (DRAP), the Trade Development Authority of Pakistan (TDAP) and the Board of Investment (BOI), with diplomatic coordination provided by the Pakistan Embassy in Beijing.