Bangladesh to set up API park; to export drugs worth Tk 8.50 cr to Burma
BY OUR PHARMA CORRESPONDENT
March 25, 2006
The government of Bangladesh would soon establish industrial parks for the pharmaceutical sector with assistance from the World Bank (WB), official sources said.
A cluster of manufacturing units for active pharmaceuticals ingredients (API) would be set up under the project. However, the locations for Pharmaceuticals Ingredients Park is yet to be selected.
The Bangladesh government has asked the WB to provide funds for establishing three industrial parks, including one for the garment sector and the WB has agreed in principle to finance the project worth US$150 million, according to officials from Board of Investments.
The government is expected to sign an agreement to this effect with the WB in June this year.
Meanwhile, Bangladesh's pharmaceuticals industry received export orders worth Tk 8.50 crore from Burma at Pharmaceuticals fair in Rangoon, Burma, a report of BD News said.
The export order was received through Edruc Limited for Tk 7 crore while Beximco Pharma got orders for the remaining Tk 1.50 crore.
The deal was forged at a recent 3-day Pharmaceuticals fair was jointly organized by Export Promotion Bureau (EPB) of Bangladesh and Bangladesh Embassy in Burma, exclusively for Bangladesh's pharmaceutical products.
A total of 25 pharmaceutical firms, including Renata Limited, Global Capsules Limited, Biopharma Laboratories Limited, General Pharmaceuticals Limited, Beximco Pharmaceuticals Limited and Edruc Limited took part in the fair.
Burma imports 85 per cent of pharmaceuticals items from Bangladesh.