India and Brazil are planning soon to conduct a trade monitoring mechanism (TMM) meeting to discuss the drugs and pharmaceutical trade mechanism between the two countries. To this effect the central government is seeking suggestions and inputs relating to trade from the industry by June 24, 2013, which will be discussed and resolved during the meet.
In a communication to the Pharmaceuticals Export Promotion Council of India (Pharmexcil), the central government has asked the agency to send inputs pertaining to trade issues, proposals and suggestions from the pharmaceutical and biotechnology companies to be taken up soon at the upcoming TMM meet. “Government of India has communicated all members of pharma industry to send in suggestions, proposals and issues relating to exports and imports of drugs and pharmaceutical products between India and Brazil. Therefore all members are requested to send in their issues and suggestions by June 24, 2013,” stated Raghuveer Kini, executive director in a letter to all members of pharmaceutical industry in India.
The TMM meeting between India and Brazil carries significance as the Indian pharmaceutical traders are facing a lot of procedural delays by the Brazilian authorities. Moreover, as Brazil is a key market and ranks sixth in the top destination countries of India's pharma exports after the US, the UK, Russia, Germany and South Africa, in view of this the Indian government is taking all steps to resolve the issues and pushing forward to boost its pharma exports, including generic drugs, to Latin American countries by amicably resolving them.
During the meet India is expected to take up with Brazil the problems faced by Indian pharmaceutical companies, including procedural delays, and the consequent increase in costs of exports. The procedural delays happen during inspections, clearances and registration by the Brazilian authorities which even sometimes stretch to 2-3 years. To reduce this, India will ask Brazil to waive inspections of those Indian pharma units approved by the US Food and Drug Administration (FDA) and by similar agencies in the UK, Australia and Europe.
In view of the above all the members of exporting companies are required to submit their suggestions, proposals and trade related issues if any to Pharmexcil latest by June 24, 2013.