Bangladesh has the potential to export more than TK. 10,000 crore worth of drugs a year, according to Bangladesh Association of Pharmaceutical Industry (BAPI).

At the 33rd annual general meeting (AGM) of BAPI recently in Dhaka, the association leaders said Bangladesh among the least developed countries (LCDs) could be the single largest drug exporter after 2005.

"Among the LCDs Bangladesh is the only country which is almost hundred per cent dependent on drugs produced locally and the country has huge potential to export drugs to over 50 new countries after 2005," said F M Shafiuzaman, president of BAPI.

The WTO agreement on drug has opened huge export opportunity for LDCs after 2005. Only 49 LDCs, including Bangladesh, will be able to export their patented drugs. Other countries, including India and China, will not be able to export their patented drugs, as the facility will be reserved for LDCs until 2016.

The Local Industry exports drugs to 52 nations including Germany, Taiwan, Singapore, the UK, the Netherlands, Chile, France, Pakistan, Kenya and Sudan. The products include wide range of therapeutic medicines including high-tech specialised products like, inhalers and nasal sprays.

BAPI has already indentified about 30 countries most of which depend on import of drugs as potential market.

"Malaria, tuberculosis and HIV/AIDS drugs are in great demand in Africa and Bangladesh can be number one manufacturer and exporter of the drugs," said Nazmul Hassan, secretary general of BAPI.

The association leaders urged the government to waive taxes, duties and other levies on import of equipment for research and development of drugs.

Health Minister Khandaker Moshraf Hossain told a seminar organised to mark BAPI AGM that his ministry would act as a bargaining agent to help local pharmaceutical companies make inroads into international drug market. "We like to see our pharmaceutical industry double its production capacity."

The minister also promised to talk to the finance ministry to cut all the existing taxes and duties on import of equipment meant for research and development of drugs.

- (Source: The Daily Star)