B'desh eyes pharma trade with Brunei

PHARMACEUTICAL trade is one area that Brunei and Bangladesh could improve on, Bangladesh High Commissioner M Shameem Ahsantold The Brunei Times on Thursday.

The diplomat explained that Bangladesh has been exporting pharmaceuticals for the past nine years and earned some US$700 million ($983 million) annually from the industry, with some US$50 million ($70 million) being earned through pharma exports.

"This covers very-high-end products, including anti-cancer medication, anti-viral drugs and even the H1N1 vaccine," said Ahsan.

He related that in a meeting with Minister of Health, he had the opportunity to tell him that if Brunei wanted to, it was possible at anytime and at short notice to import the H1N1 vaccine from Bangladesh.

Asked what advantages importing pharmaceuticals from Bangladesh had, the High Commissioner said, "Quality at a very cheap price. For example, the cost of one paracetamol tablet is four cents."

The pharmaceutical manufacturing companies in Bangladesh have been certified by Medicines and Healthcare products Regulatory Agency from the United Kingdom, and the equivalent from Australia and Singapore, said Ahsan, ensuring that the products were of international-standard quality.

"For example, there are some companies that regularly supply Raffles Hospital in Singapore," he added.

The High Commissioner said that while some trade between Brunei and Bangladesh does exist, it has not reached the extent that he would like to see. "Singapore is the regional hub and it is surmised that some kind of re-export of Bangladeshi products is taking place," he said.

"As for Bruneian products, we cannot confirm what is taking place, but we do see from some of the statistics we have been given that there is a trickle of exports from Brunei in the area of garment manufacturing."

The High Commissioner believes that some components that go into the manufacturing of garments in Bangladesh came from Brunei, meaning that the finished products coming from Bangladesh used materials from the Sultanate.

While trade between Bangladesh and Brunei is not be as high as he would like it to be, Ahsan said that it was growing. "Given the right amount of interest on both sides, it will increase. When I came over a year ago trade amounted to less than US$70,000 ($98,000). But in the last financial year ending July 2009, it has grown to US$100,000 ($140,000)," he said.

On the subject of tourism, Ahsan said that Bangladesh had a lot to offer in terms of historical and archaeological sites, but by looking at Bruneian preferences when going abroad, Bangladesh does not seem to offer the attractions that Bruneians find appealing.

"It's competitive," he said, adding that there were many contenders offering similar tourism products, such as India, Nepal, Sri Lanka and Myanmar.

"We are looking into eco-tourism, but it is not yet as developed as we would like," he said.

In addition, there are currently no direct flights between Brunei and Bangladesh. "It is difficult to say (whether direct flights will be introduced), we still have to look at profitability.

"But that doesn't mean it will not happen one day. Hopefully, if it does, it will increase tourism between our countries," he added.

The Brunei Times