Memorandums of Understanding (MoUs) worth approximately $1.6 billion were signed at the China-Pakistan B2B matchmaking conference, which focused on the medical equipment and surgical instrument sectors.
The event, held on Friday in Beijing, saw the Silk Road Assistance Industrial Internet Platform, a provider of advisory services for cross-border businesses, enter into agreements with Pakistan’s dental and surgical instrument manufacturer Sawuat and the Chinese pharmaceutical company UPH Biopharma.
As reported by China Economic Net (CEN), this collaboration aims to encourage more Chinese companies to engage in trade and establish joint ventures in Pakistan’s medical instrument sector.
Sunny Yang, the platform’s Chief Technology Officer, told CEN that Pakistan’s vast market, tax incentives, and European-standard regulations give it a competitive edge in attracting international investment. “Pakistan’s medical industry can be further advanced through collaboration with China,” he said. While Pakistan excels in equipment and instruments, there is significant potential for improvement in areas like image documentation. By combining efforts, Chinese technology can help Pakistan build its brand and ascend the global value chain.”
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Pakistan is home to the world’s fifth-largest medical manufacturing hub in Sialkot, and exports over 80% of its domestic production. Its low production costs and strategic location, linking Central Asia and the Middle East, offer attractive opportunities for international companies. Additionally, Pakistan supplies inexpensive medical raw materials and primary products to other countries for processing and export.
“Pakistan has abundant raw material resources and a large labor force. With significant strengths in medical consumables such as surgical instruments, the demand for high-value medical products is steadily increasing,” stated Zhou Hui, Chairman of the China Chamber of Commerce for Import and Export of Medicines and Health Products.
He advised Pakistani enterprises seeking cooperation with China to stay informed about Chinese regulations on medical devices and pharmaceuticals. “The Chamber will continue to provide consulting services to support the entry of Pakistani medical products into the Chinese market,” he added.
Dr. Muhammad Shahbaz, President of the China-Pakistan Medical Association, shared that he is working on establishing a China-Pakistan Friendship Hospital in Islamabad and a joint medical technology park in Pakistan. During the conference, his association reached an agreement with a technology company based in Hangzhou, China, to trade medical equipment, establish joint ventures, and transfer technology.
The conference, organized by the Pakistani Embassy in China, attracted over 120 companies from both countries. This event marks the conclusion of the first series of seven B2B events held since Pakistan’s Prime Minister visited China last June. Another seven roadshows are planned to begin next month, focusing on 14 priority sectors and creating additional opportunities for collaboration between businesses in both countries.
Courtesy APP/ERMD
