BD will continue to develop: Tofail
UNB, Dhaka :
Commerce Minister Tofail Ahmed on Sunday said Bangladesh will continue to develop overcoming all the roadblocks and mentioned that no effort from the adverse quarters can halt Bangladesh’s march forward.
“Many have vindictive attitude towards Bangladesh’s progress. But no-one can stop Bangladesh’s progress. Bangladesh is marching forward and it will continue to march forward,” he told reporters at a press conference at the Secretariat.
The press conference was arranged to brief media about the benefits of the decision of the WTO’s Council for Trade-Related Aspects of Intellectual Property Rights (TRIPS) that extended the drug patent exemption for least developed countries (LDCs) until 2033.
Bangladesh Association of Pharmaceutical Industries (BAPI) President Nazmul Hasan Papon, Adviser Abdul Muktadir and Senior Commerce Secretary Hedayet Ullah Al Mamun were present.
The Commerce Minister said the decision will have huge positive impact on the people of Bangladesh and the pharmaceuticals sector.
He said Bangladesh played the leading role in the entire long negotiations that ultimately brought a desired decision of extension.
Tofail said some 250 Bangladeshi pharmaceutical companies are now meeting 97 percent of domestic demand apart from 30 companies that are exporting to 107 countries.
Speaking at the press conference, Nazmul Hasan said the decision will have huge positive impact on the people of the country. “It was beyond our imagination that the exemption would be extended by 17 years. We were expecting at best five years,” he said.
The BAPI leader said he firmly believes that there will be a massive jump in pharmaceutical exports in the coming 2-3 years. “And I don’t have any doubt that pharmaceuticals industry will be the second largest exporter of the country after RMG within next three years. So, the opportunity is huge,” he added. Asked what will happen if Bangladesh graduates out of the LDCs, Nazmul Hasan said Bangladesh has at least 6 years in hand even if Bangladesh graduates into middle-income country.
He hoped that a manufacturing capacity will be built in Bangladesh within next 3-4 years. Abdul Muktadir said the extension of such exemption was much-desired for the people of Bangladesh, as expensive foreign drugs would have to be imported again. “Otherwise, a medicine of Tk 4-6 would turn into Tk 110-120.”
The BAPI leaders thanked the Commerce Minister and his team for the achievement through the negotiations.
Least developed country (LDC) members of the World Trade Organization (WTO), including Bangladesh, will now be allowed to maintain maximum flexibility in their approach to patenting pharmaceutical products until at least 2033.
The decision extending the drug patent exemption for poorest members will assure the LDCs the necessary legal certainty to procure or produce generic medicines for those who need it most but lack access.
The Council’s decision extends until January 2033 the period during which key provisions of the WTO’s intellectual property agreement, the TRIPS Agreement, do not apply to pharmaceutical products in LDCs.
This means LDCs can choose whether or not to protect pharmaceutical patents and clinical trial data before 2033. The decision also keeps open the option for further extensions beyond that date.
The latest extension, the second specifically applied to pharmaceutical products for LDCs, is in line with directions set by WTO ministers in the 2001 Doha Declaration on the TRIPS Agreement and Public Health.
It also follows the adoption of the new UN Sustainable Development Goals (SDGs), which affirm the right of developing countries to utilise TRIPS Agreement flexibilities to ensure access to medicines for all.
Commerce Minister Tofail Ahmed on Sunday said Bangladesh will continue to develop overcoming all the roadblocks and mentioned that no effort from the adverse quarters can halt Bangladesh’s march forward.
“Many have vindictive attitude towards Bangladesh’s progress. But no-one can stop Bangladesh’s progress. Bangladesh is marching forward and it will continue to march forward,” he told reporters at a press conference at the Secretariat.
The press conference was arranged to brief media about the benefits of the decision of the WTO’s Council for Trade-Related Aspects of Intellectual Property Rights (TRIPS) that extended the drug patent exemption for least developed countries (LDCs) until 2033.
Bangladesh Association of Pharmaceutical Industries (BAPI) President Nazmul Hasan Papon, Adviser Abdul Muktadir and Senior Commerce Secretary Hedayet Ullah Al Mamun were present.
The Commerce Minister said the decision will have huge positive impact on the people of Bangladesh and the pharmaceuticals sector.
He said Bangladesh played the leading role in the entire long negotiations that ultimately brought a desired decision of extension.
Tofail said some 250 Bangladeshi pharmaceutical companies are now meeting 97 percent of domestic demand apart from 30 companies that are exporting to 107 countries.
Speaking at the press conference, Nazmul Hasan said the decision will have huge positive impact on the people of the country. “It was beyond our imagination that the exemption would be extended by 17 years. We were expecting at best five years,” he said.
The BAPI leader said he firmly believes that there will be a massive jump in pharmaceutical exports in the coming 2-3 years. “And I don’t have any doubt that pharmaceuticals industry will be the second largest exporter of the country after RMG within next three years. So, the opportunity is huge,” he added. Asked what will happen if Bangladesh graduates out of the LDCs, Nazmul Hasan said Bangladesh has at least 6 years in hand even if Bangladesh graduates into middle-income country.
He hoped that a manufacturing capacity will be built in Bangladesh within next 3-4 years. Abdul Muktadir said the extension of such exemption was much-desired for the people of Bangladesh, as expensive foreign drugs would have to be imported again. “Otherwise, a medicine of Tk 4-6 would turn into Tk 110-120.”
The BAPI leaders thanked the Commerce Minister and his team for the achievement through the negotiations.
Least developed country (LDC) members of the World Trade Organization (WTO), including Bangladesh, will now be allowed to maintain maximum flexibility in their approach to patenting pharmaceutical products until at least 2033.
The decision extending the drug patent exemption for poorest members will assure the LDCs the necessary legal certainty to procure or produce generic medicines for those who need it most but lack access.
The Council’s decision extends until January 2033 the period during which key provisions of the WTO’s intellectual property agreement, the TRIPS Agreement, do not apply to pharmaceutical products in LDCs.
This means LDCs can choose whether or not to protect pharmaceutical patents and clinical trial data before 2033. The decision also keeps open the option for further extensions beyond that date.
The latest extension, the second specifically applied to pharmaceutical products for LDCs, is in line with directions set by WTO ministers in the 2001 Doha Declaration on the TRIPS Agreement and Public Health.
It also follows the adoption of the new UN Sustainable Development Goals (SDGs), which affirm the right of developing countries to utilise TRIPS Agreement flexibilities to ensure access to medicines for all.