Chinese, Pakistani companies reach $250 mln MoUs on medical equipment

BEIJING: Memorandums of Understanding (MoUs) worth approximately $250 million were signed today at the China-Pakistan B2B matchmaking conference focused on the medical equipment and surgical instrument sector in Beijing.

The Silk Road Assistance Industrial Internet Platform, which offers advisory services to companies engaging in cross-border business, signed agreements with Pakistan’s dental and surgical instrument manufacturer, Sawuat, and Chinese pharmaceutical company UPH Biopharma.

This partnership aims to encourage more Chinese companies to engage in trade and establish joint ventures in Pakistan’s medical instrument sector.Pakistan attracts Chinese investments in Textile

Mr. Sunny Yang, Chief Technology Officer of the platform, shared with China Economic Net that Pakistan’s large market, tax incentives, and European-standard regulations provide a competitive advantage for attracting international investment.

He added, “Pakistan’s medical industry can advance further through collaboration with China. While Pakistan excels in medical equipment, there is potential for improvement in areas like image documentation. By working together, Chinese technology can help Pakistan build its own brand and move up the global value chain.”

Pakistan, home to the world’s fifth-largest medical manufacturing hub in Sialkot, exports more than 80% of its domestic production. Its low production costs and strategic location connecting Central Asia and the Middle East present attractive opportunities for international companies. Additionally, Pakistan exports raw materials and primary medical products to other countries for further processing and export.

Mr. Zhou Hui, Chairman of the China Chamber of Commerce for Import and Export of Medicines and Health Products, stated, “Pakistan has abundant raw materials and a large workforce. The demand for high-value medical products continues to grow, particularly in surgical instruments.”

He also advised Pakistani businesses to stay informed about China’s regulations on medical devices and drugs. The Chamber will continue to offer consulting services to help Pakistani medical products enter the Chinese market.

Dr. Muhammad Shahbaz, President of the China-Pakistan Medical Association, shared that efforts are underway to establish a China-Pakistan Friendship Hospital in Islamabad and a joint medical technology park in Pakistan. At the conference, his association reached an agreement with a Hangzhou-based technology company to trade medical equipment, establish joint ventures, and transfer technologies.

Organized by the Pakistani Embassy in China, the conference saw participation from over 120 companies from both countries. This event marks the conclusion of the first of seven B2B events following the Pakistani Prime Minister’s visit to China in June. Another series of seven roadshows is planned for next month, focusing on 14 priority sectors and offering more opportunities for business collaboration between China and Pakistan.