The Pharmaceuticals Export Promotion Council (Pharmexcil) has entered into a memorandum of understanding (MoU) with Myanmar on January 11 during the first day of the international summit Vibrant Gujarat. The MoU is signed with a view to strengthen the pharma trade relations between the two counties and explore new opportunities.

This MoU will focus on addressing the complaints between the buyers and sellers from both the countries and solving their problems. The MoU ensures that in future there will be lots of interactive conferences and meeting between the countries to discuss the quality of medicines and also to share knowledge to attain better business opportunities.

According to Dr P V Appaji, executive director, Pharmexcil, “This MoU is of great significance for us as it is focused to develop better trade relation between both the countries. Through this MoU we will ensure that both India and Myanmar will take joint actions wherein there will be exchange of data from the FDA offices of both the country. We hope to conduct frequent meetings with the government officials and drug regulators to work together in sharing pharma related issues.”

Other important event that will ensure further strengthening of ties between the two nations is the second edition of buyer seller meet that is going to be conducted in Myanmar by Pharmexcil. The first buyer seller meet in Myanmar was conducted in the October 2009 whereas the upcoming event is going to be held on February 17.  “This buyer seller meet is meant to focus on the scope of increasing the export to the country and for exchange of ideas between the traders.

At Vibrant Gujarat, Pharmexcil is organising a reverse buyer-seller meet where seven counties are invited to participate in it. “All the seven countries are from Asia especially South East Asia and through this reverse buyer seller meet we aim is to strengthen the trade relationship between India and these countries. As of now even though we have trade with them its not very remarkable and we want to improve it and ensure better export opportunities to these countries.”

Sources informed that 19 buyers from Myanmar were attending this event which clearly indicates the increased trade interest between the countries. Apart from Myanmar with whom India has signed the MoU during the event, Philippines is the only other country with whom India already has an MoU, among the countries attending the reverse buyer seller meet.

Dr Appaji informed that Narendra Modi, chief minister of Gujarat will be having special meeting with  members of Pharmexcil and other selected members of pharma fraternity from India as well as from other counties to discus various trade opportunities on January 13, the third day of the event.

This year lots of trade related activities are being conducted by Pharmexcil to increase export potential of the country. In the coming months Pharmexcil is conducting BioAsia 2011 in collaboration with Federation of Asian Biotech Associations (FABA) from February 21 to 24, 2011. It is the first time that Pharmexcil is conducting a conference that is focused on the export potential of biopharmaceutical products.