Pakistan and China signed MoUs worth around US$250 million to enhance cooperation in the medical equipment and surgical instruments sector at a business matchmaking conference in Beijing.
Silk Road Assistance Industrial Internet platform, which specializes in cross-border business advisory services, has concluded agreements with Pakistani dental and surgical instrument manufacturer Sawwat and Chinese pharmaceutical company UPH Biopharma. This cooperation seeks to encourage more Chinese companies to invest in Pakistan through trade and joint projects in the medical instruments sector.
Mr. Sunny Yang, Chief Technology Officer of Silk Road Platform, highlighted Pakistan’s strategic advantages. “Pakistan’s vast market, tax incentives, and compliance with European standards give it a competitive advantage in attracting international investment,” he said.
He added: “Its medical industry can be further developed in cooperation with China.” For example, although they excel in equipment and tools, there is a lot of room for improvement in areas such as photo documentation. By joining forces, Chinese technology can help Pakistan build its own brand and climb the global value chain.
Pakistan, home to the world’s fifth-largest medical manufacturing center in Sialkot, exports more than 80% of its domestic production. Its low production costs, geographic connectivity to Central Asia and the Middle East, and cheap raw materials make it an attractive destination for global companies.
“Pakistan boasts abundant raw material resources and a large workforce,” noted Mr. Zhou Hui, President of the China Chamber of Commerce for Import and Export of Pharmaceuticals and Health Products.
“With significant strengths in medical consumables, such as surgical instruments, demand for high-value medical products continues to rise. Pakistani companies seeking cooperation with China must remain aware of Chinese regulations related to medical devices and pharmaceuticals. He added that the chamber will continue to provide Consulting services to support the entry of Pakistani medical products into the Chinese market.
Dr. Muhammad Shehbaz, President of the Chinese-Pakistani Medical Association, shared plans to further enhance cooperation between the two countries. “We are working on building the China-Pakistan Friendship Hospital in Islamabad and plan to establish a joint medical technology park in Pakistan,” he revealed.
At the conference, his association finalized an agreement with a Hangzhou-based technology company for medical equipment trade, joint ventures and technology transfer.
The conference, organized by the Pakistani Embassy in China, witnessed the participation of more than 120 companies from the two countries. The event marks the conclusion of the first series of seven B2B events launched after the Pakistani Prime Minister’s visit to China in June.
Seven more promotional rounds are scheduled to begin next month, focusing on 14 priority sectors to further expand bilateral trade cooperation, officials announced.