Pakistan and China have signed investment agreements and memorandums of understanding (MoUs) worth $1.492 billion during the two-day Pakistan-China Pharmaceutical and Healthcare Business-to-Business (B2B) Investment Conference, marking a major step toward expanding bilateral cooperation in the healthcare sector.

The conference, held in Islamabad, brought together government officials, industry leaders and more than 150 Chinese delegates alongside nearly 300 representatives from Pakistan's pharmaceutical industry. The event focused on strengthening collaboration in pharmaceutical manufacturing, biotechnology, medical devices and clinical research.

Speaking at the closing ceremony, Minister of State for Health Mukhtar Ahmad Bharath said the conference reflected the practical implementation of CPEC Phase-II, with cooperation extending beyond infrastructure projects into healthcare, advanced medical technologies and industrial development. He noted that commercial agreements worth over $850 million were finalized, covering biotechnology injectables, active pharmaceutical ingredient (API) manufacturing, medical device production and clinical trials.

The conference also witnessed the signing of 18 MoUs worth $250 million to support industrial expansion and future healthcare investments. Bharath said the government would facilitate regulatory approvals, licensing and land allocation through the Special Investment Facilitation Council (SIFC) to accelerate project implementation.

Meanwhile, the Drug Regulatory Authority of Pakistan (DRAP) said the event generated 22 commercial agreements and 42 additional MoUs across key sectors, including API manufacturing, vaccine biotechnology, generic medicines, clinical research, herbal medicine and medical devices. A leading Chinese medical technology company also announced plans to introduce advanced technologies in Pakistan for the prevention of birth defects and hereditary diseases while expanding its future investments in the country.