BEIJING, Jan 18 (APP): MoUs worth around $250 mln were signed at the China-Pakistan B2B matchmaking conference in the medical equipment and surgical instrument sector held today in Beijing.
Silk Road Assistance Industrial Internet Platform, a provider of advisory services for companies to do cross-border businesses, entered into agreements respectively with Pakistan’s dental and surgical instrument manufacturer Sawuat, and Chinese pharmaceutical company UPH Biopharma.
This collaboration aims to steer more Chinese companies to engage in trade and set up joint ventures in Pakistan in the medical instrument sector.
Mr. Sunny Yang, Chief Technology Officer of this platform, told China Economic Net that Pakistan’s vast market, tax incentives, and set of standards consistent with Europe give it a competitive edge in capturing international investment.
“Its medical industry can be further advanced in collaboration with China. For example, while it excels in equipment and instruments, there is significant room for improvement in areas like image documentation. By joining forces, Chinese technology can help Pakistan build its own brand and climb the global value chain,” he remarked.
Home to the world’s fifth-largest medical manufacturing hub in Sialkot, Pakistan exports over 80% of its domestic production. Its low cost of production and favorable geographic location linking Central Asia and Middle East offer attractive opportunities for international companies. Its inexpensive medical raw materials and primary products are also supplied to other countries for processing and export.
“Pakistan boasts 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 continues to rise,” according to Mr. Zhou Hui, Chairman of the China Chamber of Commerce for Import and Export of Medicines and Health Products.
“Pakistani enterprises seeking cooperation with China should stay updated on China’s regulations concerning medical devices and drugs. The Chamber will continue offering consulting services to support the entry of Pakistani medical products into the Chinese market,” he suggested.
Dr. Muhammad Shahbaz, President of China Pakistan Medical Association shared that he is working to build a China-Pakistan friendship hospital in Islamabad and planning a joint medical technology park in Pakistan. At this conference, his association reached an agreement with a technology company based in Hangzhou, China for medical equipment trade, establishment of joint ventures, and transfer of technologies.
Organized by the Pakistani Embassy in China, the conference attracted the participation of over 120 companies from the two countries. This event marks the conclusion of the first series of seven B2B events held since Pakistani PM’s visit to China last June. It is announced that another seven roadshows are in pipeline and expected to roll out from next month. These initiatives will focus on 14 priority sectors, providing further opportunities for collaboration between businesses in both countries.
