Pakistan eyes boosting medicine exports to $2b

The Drug Regulatory Authority of Pakistan (Drap) has assured the pharma industry that in order to further facilitate exports, the authority will establish a separate desk where all concerns of exporters regarding issuance of necessary documentation will be addressed.

Pharma exports are currently earning $230 million with potential to expand up to $2billion.

A meeting was held on Thursday under the chairmanship of Federal Minister for Health Services Aamir Mehmood Kiani with pharmaceutical exporters. The purpose of this meeting was to discuss mechanisms to boost volume of pharmaceutical and alternative medicine exports.

The federal minister in response to concerns of the pharma industry, being represented by the Pakistan Pharmaceutical Manufacturing Association and top 20 pharma exporters of Pakistan, emphasised on the need of harmonisation and facilitation of pharma export by engaging customs and the Trade and Development Authority of Pakistan (TDAP) for resolution of their grievances.

He said the sector has huge potential and needs harvesting to benefit the country by earning money abroad through improved exports of pharmaceutical and alternative medicine. It was also apprised the industry could expand its volume of exports as the 6th largest sector contributing to the overall exports of Pakistan.

Kiani advised stakeholders to submit a working paper on how export volume can be improved. Following which, CEO DRAP, Dr Sheikh Akhter Hussain apprised the federal minister that DRAP has already taken initiative to facilitate local manufacturers who are exporting to other countries.

This facilitation includes fast-track registration, incentive of registration of one molecule against a hundred thousand US Dollars of export in a fiscal year, guidance and facilitation in issuance of regulatory documentation for the purpose of exports. Furthermore, DRAP is harmonising its regulatory function in line with international practices for recognition and acceptance of local industry abroad.

CEO DRAP also assured in order to further facilitate exports, will establish a separate desk for export purpose only where all the concerns of the exporters will be addressed regarding issuance of necessary documentation. DRAP will facilitate exporters for registration, enlistment and issuance of GMP certificate and certificate of pharmaceutical products (CoPP).

“The boost in pharmaceutical and alternative medicine sector will also bring new technologies and research and development labs in Pakistan,” said Hussain.

By |2018-10-29T14:17:41+00:00October 29th, 2018|Import/Export, International, Trade|0 Comments

Leave A Comment