Pakistan, China Sign $250 Million MoUs to Boost Medical Equipment Trade

Sat Jan 18 2025
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ISLAMABAD: Pakistani and Chinese companies have signed memorandums of understanding (MoUs) worth $250 million to enhance collaboration in the medical and surgical equipment sector.

The agreements, aimed at fostering trade and investment, were finalised during a China-Pakistan B2B matchmaking conference held in Beijing on Friday, Pakistan’s state-run APP news agency reported on Saturday.

Pakistan and China enjoy strong bilateral relations and China supported the South Asian country through many investments and development projects such as the China-Pakistan Economic Corridor project which was termed a “lifeline” for the country’s economy.

While quoting China Economic Net (CEN), APP reported that Silk Road Assistance Industrial Internet Platform — a provider of advisory services for companies to do cross-border businesses — signed MoUs with Pakistan’s dental and surgical instrument manufacturer Sawuat, as well as Chinese pharmaceutical company UPH Biopharma.

According to CEN, the collaboration aims to encourage more Chinese companies to set up joint ventures in the medical instrument sector.

Pakistan’s embassy in Beijing also confirmed in a statement yesterday that three MoUs worth $250m were signed during the conference.

The embassy said it hosted, in collaboration with the Board of Investment (BOI), the sixth moot in a series of sector-specific B2B matchmaking meetings focused on investment partnerships between Pakistan and China in the medical sector.

“Over 80 Chinese companies and associations and more than 20 Pakistani companies participated both in person and online,” it noted.

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According to CEN, the conference marked the conclusion of the first series of seven B2B events held since Prime Minister Shehbaz Sharif’s visit to China last June. Another seven roadshows were in the pipeline and were expected to roll out from next month, the report added.

During PM Shehbaz’s visit, 32 MoUs were agreed upon to promote trade and investment between the two neighbours.

In September 2024, Chinese companies signed various MoUs with their Pakistani counterparts at a conference, where as many as 25 major Chinese firms exp­ress­ed their deep interest in investing heavily in Pakistan.

Most recently, in December, Chinese and Pakistani diplomats signed MoUs for five projects in transport, health, energy and agriculture, with support from the Sindh government. This came days after a Chinese business delegation met with President Asif Ali Zardari in Karachi.

 

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