The New Nation - Internet Edition

ECONOMIC REPORTER

Bangladesh exported pharmaceuticals worth US$28.12 million to 68 countries of the world last year, registering a 47 per cent growth, while the country's pharmaceuticals sector has a domestic market of about US$700 million, 97 per cent of which is met by local industries.

It was stated at a seminar on 'Investment & Export Opportunities in Pharmaceuticals Industry of Bangladesh' was held recently at DCCI Auditorium.

The seminar was jointly organised by the Dhaka Chamber of Commerce & Industry (DCCI), Bangladesh Association of Pharmaceuticals Industry (BAPI) and Local Enterprise Investment Centre (LEIC).

The seminar was conducted by the DCCI President Hossain Khaled. DCCI Director Asif Ibrahim gave a multi-media presentation on 'Supply of Demand for Pharmaceuticals and Natural Products.' Nazmul Hossain, Group Brand Manager, Beximco Pharmaceuticals Ltd and Rasna Hasan, Head of Corporate Affairs and Communication, Novartis also made multimedia presentations on 'Required Certifications in Pharmaceuticals Industry and Procedures for Exporting Pharmaceuticals Products' and 'Contract Manufacturing from Bangladesh' respectively. SM Shafiuzzaman Khokon, President, Bangladesh Association of Pharmaceuticals Industry (BAPI) and Secretary General of BAPI, Nazmul Hasan were present at the seminar.

In his speech, the DCCI President mentioned that pharmaceuticals sector is one of the fast growing sectors of Bangladesh and has the opportunity to grow further under the provisions of the TRIPS Agreement of WTO.

He informed that the country's pharmaceuticals sector has a domestic market of about US$700 million, 97 per cent of which is met by local industries. 'Our local companies are now exporting to 68 countries all over the world and in 2006-07, total export was US$28.12 million with a growth of 47 per cent in the last fiscal year," he said.

The DCCI President mentioned that almost 85 per cent of the total required raw materials are imported. 'Our projected total import is almost US$300 million for the next three years," he said.

He said the concerned trade bodies, BAPI and the government could work together to remove the impediments affecting the pharmaceuticals sector which particularly needs new investment for production of Active Pharmaceuticals Ingredients (API) for building export capacity and reduction of dependency on imported materials.

Nazmul Hasan spoke on investment and export opportunities in pharmaceutical industry of Bangladesh.

SM Shafiuzzaman Khokon informed the seminar that BAPI has already provided nearly 75,000 licences for opening pharmacies in the country. He also informed that there were nearly 2,00,000 pharmacies in Bangladesh, out of which 75,000 were operating with valid licences. He also said the number of pharmacy graduates in Bangladesh now stands at approximately 3,000-3,500.

Among others, DCCI Vice-President Khandaker Shahidul Islam, DCCI Past President ASM Quasem, other DCCI Directors and participants were present at the seminar.