Bangladesh pharma eyes UAE exports

Pharmaceutical companies in Bangladesh are trying to boost its pharmaceutical exports to the United Arab Emirates and Middle East as  the country enjoys unique concessions as a least-developed country under  World Trade Organization drug patent rules, a senior government  official told the Emirates Business publication.

Bangladesh, one of the poorest South Asian countries and the 10th most  populous country in the world, is currently facing a critical economic  scenario due to the sharp decline in garment exports to the USA and  Europe.

Mohammed Shahjalal, Assistant Director, Export Promotion Bureau under  the Bangladesh Ministry of Commerce told the newspaper that the drug  industry is poised to be the latest growth sector due to the favorable  position as a least developed country. "We are trying to boost  pharmaceutical exports to the [Gulf Cooperation Council states] and  efforts are on to get registration from the UAE Ministry of Health. Many  pharmaceutical companies and multinationals have expanded their  production capacity in Bangladesh because, as a least-developed country,  we have until 2016 to produce cheap generic drugs," he said.