Pakistan and China Sign $440 Million Pharma Deals in Islamabad, Boosting CPEC 2.0

Islamabad: Pakistan and China have signed pharmaceutical and healthcare agreements worth approximately $440 million during the Pakistan-China Pharmaceutical & Healthcare B2B Investment Conference held in Islamabad.

The conference brought together more than 450 companies from both countries to explore joint ventures in pharmaceuticals, vaccine production, biotechnology, medical research, and healthcare innovation.

Prime Minister Shehbaz Sharif described the agreements as a significant milestone for Pakistan's pharmaceutical industry. He noted that while Pakistan currently manufactures around 85% of its medicines, the country continues to depend on imported raw materials for production.

The new partnerships aim to strengthen local pharmaceutical manufacturing, expand vaccine production, support hepatitis prevention initiatives, and increase Pakistan's pharmaceutical exports to international markets.

Sharif also linked the investment agreements to the next phase of the China-Pakistan Economic Corridor (CPEC 2.0), following China's estimated $30 billion investment during the first phase of the project.

During his address, the prime minister reaffirmed Pakistan's commitment to ensuring the security of Chinese investors and delegates, describing China as Pakistan's trusted and longstanding strategic partner.