The Arab Union of Manufacturers of Pharmaceuticals and Medical Appliances (AUPAM) and the Bangladesh Association of Pharmaceutical Industries (BAPI) sign an MoU on pharmaceutical cooperation, Amman, Jordan, July 18, 2023. (Twitter/@bdinjordan)
Metropolis Desk-
After signing a contract 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 continue working with Gulf nations.
On Tuesday, BAPI and AUPAM, based in Amman, signed a memorandum of understanding (MOU) committing the two organizations to continue cooperation, including knowledge-sharing and pharmaceutical trade.
“This MoU would promote greater Bangladesh-Gulf cooperation in the pharmaceuticals industry. It will aid businesses in both regions in exploring prospects and fostering cooperation, according to BAPI treasurer Mohammed Halimuzzaman, who spoke to Arab News over the phone.
It’s advantageous for 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 production facilities.
“We require permission from the regional regulatory authorities if we want to export pharmaceutical products to that area. “We asked AUPAM leaders to speed up the approval process,” Halimuzzaman stated.
“They want Bangladeshi partners to help them develop manufacturing facilities in their area. They are interested in receiving technologies from us.”
Bangladesh has been working to diversify its exports despite being primarily renowned for its textile sector, 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, including Beximco Pharmaceuticals, produce anything from simple generic medications to sophisticated compounds and sell them to about 50 different nations, 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.
“The partnership with AUPAM brings up new opportunities for cooperation and increased trade. Additionally, Bangladesh’s and the Arab region’s pharmaceutical industry will both profit.”
Source- Arab News
