Dhaka: After agreeing to a deal with the Arab Union of the Manufacturers of Pharmaceuticals and Medical Appliances in Jordan, the Bangladesh Association of Pharmaceutical Industries stated on Wednesday that it hopes to work with Gulf nations more in the future.
On Tuesday, BAPI and AUPAM, which has its headquarters in Amman, agreed to further their cooperation, including through the sharing of knowledge and the trade of pharmaceuticals.
"This MoU will foster greater cooperation between Bangladesh and Gulf nations in the pharmaceuticals sector. In a phone interview with Arab News, BAPI treasurer Mohammed Halimuzzaman said that it would aid businesses in both regions in exploring opportunities and fostering cooperation.
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It's advantageous on both sides, he claimed. AUPAM is friendly and helpful when working with us.
The Arab organization will help Bangladesh export pharmaceutical products to the Gulf region, and Bangladesh will provide AUPAM with the technology needed to set up manufacturing facilities.
"We need permission from the regional regulatory authorities whenever we want to export pharmaceutical products to that area. "We asked AUPAM leaders to speed up the approval process," Halimuzzaman said.
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They are looking for Bangladeshi partners to help them develop industrial facilities in their area. They are interested in receiving technology from us.
Bangladesh has been working to diversify its exports despite being primarily known for its garment industry, which accounts for more than 80% of all exports.
Officials have been attempting to investigate the sector's potential in the Gulf region because the pharmaceutical industry in Bangladesh is one of the most rapidly expanding industries in the nation.
Pharmaceutical companies in Bangladesh, like Beximco Pharmaceuticals, produce everything from simple generic drugs to complex molecules and export them to about 50 different countries, including the US.
"Bangladesh's pharmaceutical sector is flourishing. It has a reputation for being high-quality and reasonably priced, according to Nahida Sobhan, the ambassador of Bangladesh to Jordan, who spoke to Arab News.
"The deal with AUPAM opens up new avenues for cooperation and increased trade. Additionally, it will help the pharmaceutical industries in Bangladesh and the Arab world.
