With a view to improve trade relations with Bangladesh, FICCI, in collaboration with the department of commerce, government of India, is organizing ‘India Show’ at Bangabandhu International Conference Centre in Dhaka from December 3 to 5, 2012.

As Bangladesh is also emerging as an important market in the generic pharmaceutical sector this show provides an apt platform for the Indian pharma players to showcase their capabilities in the generic segment.

Over the years, India and Bangladesh have taken a number of initiatives to remove 'invisible' trade barriers such as elimination of tariffs and non-tariff restrictions at the unilateral, bilateral, and regional levels. India has become Bangladesh’s largest trading partner in South Asia.

Though the domestic market at present is growing at a rate of about 15-20 per cent per year in Bangladesh, the country is lagging behind due to acute infrastructure deficiency. Bangladesh pharmaceutical industry still lacks independent and efficient production capabilities of processing & packaging machineries and raw materials, etc. Taking this advantage, the Indian pharma players can build a strong business relationship with Bangladeshi companies to help them build infrastructure and in turn Indian companies can gain good gains with their exports.

Having recognised the huge potential of the budding pharmaceutical sector in Bangladesh, India with its well established and globally renowned pharmaceutical base can play a vital role in terms of technology transfer, providing training, imparting knowledge on various related subjects of pharma and biotechnology and thereby can develop mutual trade relations and become one of Asia’s dominant players.

At present, Bangladesh is largely dependent on India for its generics. It is importing huge quantities of APIs from India for its domestic pharma industry needs. As the country is aiming to develop its own API manufacturing base, it could well utilize the services of India and can enter into joint ventures with Indian companies for technology transfer and sharing other aspects of the industry.

As Bangladesh is listed among the least developed countries (LCD) and it has the advantage of producing re-engineered generics of branded drugs as no patent law applies according to international agreement. As this opportunity is available only till 2016 the country is planning to develop a robust pharma infrastructure and building a special pharma zone.

“In the recent years, we have improved our API exports to Bangladesh. Though some companies in Bangladesh are strong in manufacturing in certain generics, they are weak in molecule segment. Their APIs industry has not yet grown and totally import oriented. Most of their companies are importing APIs from India and China,” said Dr PV Appaji, director general, Pharmexcil.