Pakistan, China sign $440mn pharma deals at Islamabad conference

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday said that Pakistan and China signed nine pharmaceutical agreements worth more than $440 million during a Business-to-Business conference in Islamabad.

Federal ministers, senior officials, China's ambassador to Pakistan and representatives of both countries' pharmaceutical firms attended the conference.

During his address, PM Sharif called China "Pakistan's most reliable and time-tested friend," citing $30 billion in investment under the first phase of the China-Pakistan Economic Corridor. He praised Chinese President Xi Jinping as a "visionary and dynamic leader" behind China's economic and strategic transformation.

The prime minister also assured that the agreements, which covered manufacturing, vaccine production, and research and development, would soon be practically implemented as well. 

"The security of Chinese brothers and sisters in Pakistan is paramount for us, it is most important," the prime minister said, adding that Islamabad would ensure the security of Chinese nationals in Pakistan, saying "no stone will be left unturned" in that regard.

Underscoring the ties between both countries, PM Sharif expressed his gratitude towards China for backing Islamabad in its role as a mediator between the United States and Iran, resulting in the Islamabad Memorandum of Understanding. 

Health Minister Mustafa Kamal called the conference part of the prime minister's vision to promote Pakistan's pharmaceutical industry globally. Chinese Ambassador Jiang Zaidong said ongoing projects in Pakistan were expected to create over 20,000 jobs, adding that 29 Pakistani medicinal products are already sold in the Chinese market.

Border management

Separately, Pakistan and China agreed to expand cooperation on immigration, border management and institutional coordination, reaffirming commitments to combat illegal immigration and cross-border crime.

The agreement was reached during a meeting between Interior Minister Mohsin Naqvi, Minister of State for Interior Talal Chaudhry, and a Chinese delegation led by Qi Jingyang, Director General of China's National Immigration Administration.

The two sides agreed to accelerate a bilateral agreement to streamline immigration procedures and establish a Pakistan-China Joint Working Group on border management and security.