Pakistan, China pharma companies ink agreements worth $440 million
PM Shehbaz says China remains Pakistan’s most reliable partner, bilateral cooperation in pharmaceutical manufacturing essential for Pakistan’s economic and public health objectives
The Pakistani and Chinese private sectors on Friday sealed nine agreements worth $440 million during the Pak-China Pharmaceutical B2B Conference held in Islamabad, reported 24NewsHD TV channel.
The agreements signed were related to cooperation in local vaccine production, immunization and biotechnology.
An agreement was also inked regarding medicines production, technology and hepatitis prevention.
Addressing the ceremony, Prime Minister Shehbaz Sharif welcomed the signing of the agreements.
— Government of Pakistan (@GovtofPakistan) July 17, 2026
Addressing the Pakistan-China Pharmaceutical Conference, the prime minister described China as Pakistan’s most sincere and trusted friend, saying Beijing had stood by Islamabad during every difficult period. “China has supported Pakistan through every challenge and remains our most reliable partner,” he said.
Prime Minister Shehbaz Sharif said that his recent visit to China was highly successful and pleasant as China assisted Pakistan in mediation efforts. Prime Minister said that China was a highly reliable and sincere friend of Pakistan. China has always supported Pakistan at international forums.
Prime Minister Shehbaz Sharif on Friday called for greater cooperation between Pakistan and China in the pharmaceutical sector, saying Chinese investment and expertise could help boost local medicine production, expand exports and improve access to affordable drugs.
The prime minister said the China-Pakistan Economic Corridor (CPEC) was a strong bridge connecting the two countries through shared development and prosperity.
“CPEC is a bridge of progress between the two brotherly countries,” he said, adding that bilateral cooperation in pharmaceutical manufacturing was essential for Pakistan’s economic and public health objectives. PM Shehbaz welcomed Chinese investment in the pharmaceutical industry and said Pakistan wanted to benefit fully from China’s technological expertise, manufacturing capacity and capital.
PM Shehbaz also referred to recent regional tensions, saying Pakistan had played a role in preventing the situation from escalating into a wider conflict. He credited the country’s leadership, including Field Marshal Syed Asim Munir, with helping avert war in the region.
“Pakistan played the role of a mediator between Iran and the United States,” he said, adding that the Islamabad memorandum of understanding was signed as a result of Pakistan’s mediation efforts.
He said closer cooperation would support the domestic production of medicines and help Pakistan increase pharmaceutical exports.
“We are promoting business-to-business partnerships with China in the pharmaceutical sector,” the prime minister said.
He added that joint ventures between Pakistani and Chinese companies could become an important milestone for the industry and help reduce the country’s dependence on imported medicines and raw materials.
The prime minister said collaboration between the two countries could also enable the public to access medicines at more affordable prices.
“Pakistan-China cooperation in pharmaceuticals will help provide inexpensive medicines to the people,” he said.
The prime minister reaffirmed the close relationship between Islamabad and Beijing, saying the interests and prosperity of the two countries were closely linked. “China’s happiness is connected with Pakistan’s happiness,” he said.
Chinese Ambassador to Pakistan Jiang Zaidong said that under this initiative over 20,000 job opportunities were expected to be created. Chinese Ambassador said that demand for healthcare facilities in Pakistan was continuously rising. He said that Pakistan was making steady progress under the leadership of Prime Minister Shehbaz Sharif.