PM Shehbaz hails $440mn Pakistan-China pharma deals, says partnership to advance CPEC 2.0

Prime Minister Shehbaz Sharif on Friday hailed the signing of nine agreements worth around $440 million between Pakistani and Chinese private enterprises in the pharmaceutical sector, describing the development as a major step towards strengthening bilateral economic cooperation and advancing the next phase of the China-Pakistan Economic Corridor (CPEC 2. 0). Addressing the Pakistan-China Pharmaceutical Business-to-Business Conference in Islamabad, the prime minister expressed confidence that the agreements would turn into practical projects, saying they would boost investment in pharmaceutical manufacturing, vaccines, research and development, and help Pakistan emerge as a regional centre for the production and export of life-saving medicines. “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, ” he said. He said China had consistently stood by Pakistan during difficult times and had already invested more than $30 billion under first phase of CPEC, calling the new partnerships another milestone in expanding economic cooperation. The prime minister also highlighted Pakistan’s role in promoting regional peace, saying Islamabad had played an important mediating role during the recent regional crisis with the support of friendly countries, particularly China. He appreciated the contributions of President Xi Jinping, Premier Li Qiang and other Chinese leaders, while also acknowledged the efforts of Field Marshal, Syed Asim Munir, and Deputy Prime Minister, Ishaq Dar in diplomatic engagements. Reaffirming Pakistan’s commitment to Chinese investors, he said the security of Chinese nationals working in Pakistan remained the government’s highest priority and assured them of comprehensive protection. Chinese Ambassador Jiang Zaidong said 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. He said the embassy had worked as a bridge between enterprises of both countries to promote business partnerships.

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