DHAKA: The Bangladesh Association of Pharmaceutical Industries said on Wednesday it is hopeful of more collaboration with Gulf countries after signing an agreement with the Arab Union of the Manufacturers of Pharmaceuticals and Medical Appliances in Jordan.
BAPI signed a memorandum of understanding with Amman-based AUPAM on Tuesday, under which the two bodies agreed to further cooperation, including in knowledge-sharing and trade of pharmaceuticals.
“This MoU will help increase collaboration in the pharmaceuticals sector between Bangladesh and Gulf countries. It will help companies in both regions explore opportunities and strengthen collaboration,” BAPI treasurer Mohammed Halimuzzaman told Arab News in a phone interview.
“It’s beneficial from both ends,” he said. “AUPAM is very cooperative and cordial in working with us.”
Under the agreement, Bangladesh will assist AUPAM with the technology required to establish manufacturing facilities, while the Arab organization will help the South Asian nation export pharmaceutical goods to the Gulf region.
“When we want to export pharmaceutical goods to that region, we need to have approval from the regulatory authorities of that region. We requested that AUPAM leaders help us get this approval more efficiently,” Halimuzzaman said.
“They would like to have partners from Bangladesh to build manufacturing facilities in their region. They would like to have technology from us.”
Bangladesh, which is mostly known for the garment industry that makes up over 80 percent of its total exports, has been making efforts to diversify its exports.
With the Bangladeshi pharmaceutical industry among the country’s major growing sectors, officials have been trying to explore the sector’s possibilities in the Gulf region.
Bangladesh drugmakers, such as Beximco Pharmaceuticals, export generic drugs to some 50 countries including the US and make everything from plain generic drugs to complex molecules.
“The pharmaceutical industry in Bangladesh is booming. It has earned a reputation for its quality and competitive pricing,” Nahida Sobhan, Bangladesh’s ambassador to Jordan, told Arab News.
“The agreement with AUPAM opens up new horizons for collaboration as well as more trade. And it will benefit pharmaceutical industries both in the Arab region and in Bangladesh.”
