Bangladesh, a country that was hitherto known for its traditional sectors like textiles and jute in the business world, has never been considered even for its likely contributions to the knowledge-based industry sectors like drugs and pharmaceuticals. Today, this country is boasting of a pharma industry output worth US $ 344 million annually with direct export trade with as many as 27 countries.
Certainly, this South East Asian country can no longer be underestimated for its strong future in unconventional industry capabilities. In this context, selection of Bangladesh as the venue for Asian Pharma Expo-2003 is much relevant as it is expected to open up a much wider gateway for the trade to and from the country.
With an annual turnover of more than US $ 344 million, Bangladesh Pharmaceutical Industry has a consistent growth rate of 22%. The expected turnover of the industry by the year 2005 would be over US $ 862 million. While currently exporting Pharmaceuticals to 27 countries worldwide, the export figures are expected to rise significantly by that time.
The Global Pharma Expo 2003, which is the maiden pharmaceutical event in Bangladesh, is organized and promoted by Bangladesh Association of Pharmaceutical Industries (BAPI) and Global Pharma Expo. The country''s first pharmaceutical exhibition and conference is also supported by Ministry of Health and Family Welfare, Government of Bangladesh.
BAPI, as the apex and premier Pharmaceutical trade and promotion body of Bangladesh represents more than 200 pharmaceutical manufacturers of the country. The BAPI members contribute around 97 per cent of the country''s pharmaceutical production.
According to the organizers, APE 2003 offers a unique opportunity for the Global pharma community to meet the Bangladeshi clientele as well as representatives from more than 18 countries worldwide. The participants from South & South East Asian countries like Bangladesh, India, China, Myanmar, Thailand, Pakistan, Nepal, Malaysia, Indonesia, Taiwan, Hong Kong, Korea & some European countries shall be in focus.
Announcing this first ever pharma conference and exhibition at Dhaka, Shafiuzzaman, president, BAPI, has given the assurance that the goal of the entire event is to invite pharma allied sectors as well pharma manufacturing organisations to join with the rapidly growing pharma industry of Bangladesh.
Looking at the pharma scenario of Bangladesh, the future looks promising with a high potential as the National Drug Policy of Bangladesh encourages the local production of raw materials and bulk drugs within the country and offers extensive opportunities in this direction. With highly qualified people involved thorough all the stages of production, the pharma sector of Bangladesh is at the threshold of attaining self-sufficiency in the area of producing the high quality drugs and medicines.
Revealing the future plans on spearheaded development and growth, the BAPI president also added that Bangladesh has all the potential to become a major global source for Active Pharmaceutical Ingredients (API), as based on the Doha declaration, the country will also be able to produce drugs until 2016 which are still under patent protection. This will require participation from many local as well as foreign companies where every stakeholder will benefit of vast potential that Bangladesh can offer. The local entrepreneurs are capable and willing to invest and collaborate with suitable foreign partners in order to, further develop the existing API manufacturing facilities.
By assembling a panel of experts to focus on key issues, the event offers an excellent opportunity to gain an inside tack on the current happenings in pharmaceutical industry in this region. Hence, APE 2003 should grow up to the expectation that the trade partners in this South East Asian region can never miss it. It should deliver the goods as it is expected to be an ideal opportunity for organizations to showcase products, ideas, technology or image where the potentiality of growth is huge and also an opportunity to network with broad front of pharmaceutical technology allowing to make high quality business contacts.