Pakistan China News : Relationships

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

• Security of Chinese nationals working in Pakistan remains govt's top priority, premier says

July 17, 2026



ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif witnesses the signing and exchange of agreements between Chinese and Pakistani pharmaceutical companies at the Pak China Pharmaceutical B2B Conference on 17 July 2026. - Photo: PMO

APP
BRecorder

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.

 

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Chinese Foreign Minister "Wang Yi":
China supports the "Mecca Agreement" between Saudi Arabia, Turkey, and Pakistan, and calls for the establishment of a security charter between China and the Islamic countries.

 

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On the sidelines of the SCO engagements, the prime minister and DPM held bilateral meetings with leaders of participating countries.

FM Dar met with Foreign Minister of China Wang Yi as well on the sidelines of the SCO Council of Heads of State meeting in Bishkek on Tuesday.

The two foreign ministers held a warm and cordial exchange, reaffirming the All-Weather Strategic Cooperative Partnership between Pakistan and China.

“They discussed matters of mutual interest, including UNGA 2026 in New York and the ongoing process for the election of the next Secretary-General of the United Nations,” the FO said.

 

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