Pakistan-China Pharma Conference Concludes with $850 Million in Agreements

Pakistan and Chinese companies have signed agreements totaling $850 million at the conclusion of a two-day Pakistan-China Pharmaceutical and Healthcare B2B Investment Conference in Islamabad. Federal Health Minister Mustafa Kamal announced that 16 contracts and 80 Memoranda of Understanding (MoUs) were finalized during the event, highlighting it as a significant economic milestone for bilateral cooperation in the pharmaceutical sector.

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He termed it a key economic milestone for cooperation between the two countries in the pharmaceutical sector.

Of the total value, contracts amounted to $600 million and MoUs to $250 million. Notably, 18 of these agreements focus on herbal medicines. The conference successfully created an environment conducive to local production of health equipment and attracted investment into Pakistan's healthcare industry. Minister Kamal welcomed the growing business-to-business ties and Chinese investment as crucial steps toward strengthening the nation's pharmaceutical sector.

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He stressed that establishing local vaccine manufacturing was a priority, projecting that the cost of imported vaccines could reach $1.2bn by 2030.

A key priority discussed was local vaccine production, as Pakistan currently imports 13 different vaccines, a cost projected to reach $1.2 billion by 2030. Local manufacturing is expected to reduce import reliance and save foreign exchange. The agreements also address the domestic production of pharmaceutical raw materials, of which Pakistan imports 90%. This initiative is anticipated to lower medicine prices for the public.

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He said local production would lower medicine prices and directly benefit the Pakistani public.

Discussions also covered the local manufacturing of medical devices, the promotion of clinical trials, and vocational training within the pharmaceutical sector. The Drug Regulatory Authority of Pakistan has digitalized over 80% of its services, simplifying the license application process to 20 days. The World Health Organization has recognized Pakistan's laboratories for drug testing, further bolstering the industry's credibility. The large turnout of Chinese companies underscored Pakistan's pharmaceutical capabilities and the potential for job creation, technology transfer, and foreign exchange earnings.

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The event was attended by 146 Chinese companies comprising around 220 delegates and more than 200 Pakistani companies, creating one of the largest Pakistan-China business engagements in the pharmaceutical, healthcare