Key Takeaways
- Prime Minister Shehbaz Sharif hailed nine agreements worth $440 million between Pakistani and Chinese private enterprises.
- The deals aim to boost investment in pharmaceutical manufacturing, vaccines, and R&D.
- Pakistan is set to become a regional center for the production and export of life-saving medicines.
Prime Minister Shehbaz Sharif celebrated the signing of nine agreements worth approximately $440 million between Pakistani and Chinese private enterprises during the Pakistan-China Pharmaceutical Business-to-Business Conference in Islamabad. These deals are seen as a significant step towards strengthening bilateral economic cooperation, particularly under the framework of CPEC 2.0.
Addressing the conference, Prime Minister Sharif expressed confidence that these agreements would translate into practical projects, emphasizing their potential to enhance investment in pharmaceutical manufacturing, vaccines, and research and development (R&D). He stated, 'I think this will ultimately result into manufacturing life-saving medicines, vaccines, research and development and become a center of excellence for exporting our wonderful products to neighboring countries.'
The prime minister highlighted Pakistan’s role in promoting regional peace, noting that the country had played an important mediating role during recent crises with support from friendly nations, particularly China. He also acknowledged the contributions of President Xi Jinping, Premier Li Qiang, and other Chinese leaders, as well as Field Marshal Syed Asim Munir and Deputy Prime Minister Ishaq Dar in diplomatic engagements.
Chinese Ambassador Jiang Zaidong underscored Pakistan’s large and growing population, which he said created significant demand for healthcare. He stated that the embassy had worked to bridge business partnerships between enterprises of both countries, making Pakistan an attractive destination for investment and cooperation in the pharmaceutical sector.
Prime Minister Sharif reaffirmed Pakistan's commitment to Chinese investors, emphasizing the government’s priority on ensuring the security of Chinese nationals working in Pakistan. He assured comprehensive protection measures are in place to safeguard their interests.
The agreements signed during this conference are expected to contribute significantly to advancing CPEC 2.0 by fostering stronger economic ties and promoting regional cooperation through enhanced pharmaceutical capabilities. The prime minister's optimism reflects a shared vision for mutual growth and development between Pakistan and China.
'I think this will ultimately result into manufacturing life-saving medicines, vaccines, research and development and become a center of excellence for exporting our wonderful products to neighboring countries.'
Prime Minister Shehbaz Sharif, Prime Minister of Pakistan
'Pakistan’s large and growing population had created significant demand for healthcare, making the country's pharmaceutical sector an attractive destination for investment and cooperation.'
Chinese Ambassador Jiang Zaidong, Chinese Ambassador to Pakistan
