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Business Recorder
11 hours ago
- Business
- Business Recorder
Pharmaceutical exports: some prescriptions
'The global pharmaceutical market is in a state of flux due to major restructuring, both in terms of the demand and supply. This presents a unique opportunity for the sector in Pakistan to take timely action by positioning itself strategically to enter the global drugs market. Pakistan is well poised to gain from opportunities provided under these shuffling global patterns of demand and supply'. International Trade Centre study titled Pakistan Export Strategy – Pharmaceuticals 2023-2027. The Pharmaceutical market in Pakistan is estimated at over PKR 1.10 trillion, growing at a rate of over 15 percent according to analysts. There are over 700 pharmaceutical companies from Karachi to Khyber. In Pakistan, 80 percent of the domestic need for medicine is fulfilled by local manufacturing, whereas the other 20 percent is through imports. Most of the imports are essential and crucial drugs that cannot be manufactured locally, and at the present moment not licensed for manufacturing for specific reasons. Pakistan's pharmaceutical exports growth hit a two-decade high of 34 percent in the fiscal year ended June 30, 2025, hitting sales of USD 457 million, whereas in 2024 the exports were USD 341 million. Although the pharma sector is commended for its export performance, nevertheless, Pakistani companies should endeavour to seek new export markets. The pharma exports growth trajectory requires close liaison between the manufacturers and the regulator. The main destinations for Pakistan's pharmaceutical exports are Afghanistan, the Philippines, Uzbekistan, Sri Lanka, Cambodia and recently Iraq. Formidable efforts must be made to carve out a substantial share of the African, Middle East and Central Asia markets. In the same manner as other Pakistani products, the menace of illicit exports of pharma products which in many cases lack quality assurance, use substandard raw material, and are unethically counterfeit, while bringing in undocumented foreign proceeds, result in creating a negative image of the pharma sector. It is recommended that a pharma oversight Council be formed consisting of representatives from SIFC, Anti-Narcotics Force, Army Corps X1 and Corps X11 based in KPK and Balochistan, as well as from the Pakistan Pharmaceuticals Manufacturers Association that would identify those in this illicit trade, seal their premises, and prosecute the owners or perpetrators. This illicit trade is estimated to be around USD 90-100 million annually and is growing every year. It is an accepted fact that exports of pharmaceutical products require compliance with world-class quality assurance standards, maximum focus on health safety standards, and investment in modern technologies, including use of Artificial Intelligence. A solid foundation is imperative in order to claim a stake in the export regime, as this would enable the companies to enhance their competitiveness in the global market. According to Arshad Rahim Khan, an old pro in the pharma industry who has been appointed as TDAP Consultant on pharmaceuticals, 'currently, the sector is underdeveloped, non-compliant with international regulations (cGMP, PICs, ISO, WHO, EU, UK, US), low performing, and hence at a low entry valuation'. Haroon Qasim, a leading pharmaceutical company owner and advocate of instilling the concept of new technology in manufacturing, highlighted the role of digital technologies in revolutionising drug development, patient engagement, and pharmacovigilance. Enlightened entrepreneurs are adopting AI rapidly and are well aware of its importance in new drugs development, in improving safety of consumers, and making a well-intentioned paradigm shift in the healthcare landscape. The Institute of Chartered Accountants of Pakistan, in its study of the pharma sector, stated that 'over 90 percent of the raw material used in making of drug is imported.' Only 12 percent of API is produced in Pakistan. Specialized finished dosage form and biologicals such as vaccines, oncology, etc., continue to be imported. The current practice of importing 95 percent of the raw material, compounding active ingredients with excipients, coating the pills, and packaging the drugs, cannot continue to be the long-term goal of the sector. Heavy import dependency of active ingredients from China and India also poses significant concentration risk. Reliance of local pharmaceutical industry on India was estimated at 50 percent — 60 percent before the recent Indo-Pak conflict. Pakistan Business Council, in a study 'Unleashing the Potential of Pharmaceuticals in Pakistan', advised that 'Drug Regulatory Authority of Pakistan should continue its reforms for quality regulation and enforcement, for example, by achieving international standards, clearing certifications as per WHO Global Benchmarking Tool, and attaining the Pharmaceutical Inspection Corporation Scheme membership, which could allow market access to Stringent Regulatory Authority countries'. The depressing situation is that only four foreign companies have manufacturing facilities in the country. Ayesha T. Haq, Executive Director of Pharma Bureau, emphasized the issues impeding the growth of foreign pharmaceutical companies in Pakistan. 'The regulatory environment in Pakistan is a major obstacle to the growth of foreign pharmaceutical companies. The DRAP Act 2012, Drugs Act 1976, and Drug Pricing Policy 2018, contain numerous anomalies, including overlapping powers, unclear standard operating procedures, and irrational pricing of essential drugs. These issues have led to a lack of confidence among foreign investors.' In a transformative step aimed at modernizing trade and enhancing the global competitiveness of Pakistan's pharmaceutical sector, the Pakistan Single Window, in collaboration with DRAP, officially launched the Digital Certificate of Pharmaceutical Product. This Digital Certificate is designed to streamline cross-border pharmaceutical trade by meeting the documentation and regulatory requirements of importing countries. It replaces traditional paper-based systems with a secure, verifiable, and fully digital solution. The pharma industry must continue the momentum of export growth. A comprehensive and holistic approach is crucial, and this is possible when manufacturers are successful in lobbying and advocating the removal of challenges that hinder rapid growth and are determined to meet the high quality standards of international organizations. Pakistan lacks Bioequivalence Centers that are approved or partnered with major regulatory authorities. An Executive of a leading pharma company disclosed in an email that 'countries like Uzbekistan, Bangladesh, and India provide financial support to their pharmaceutical companies for conducting Bioequivalence studies from internationally accredited or approved centres, enabling faster product registration compared to Pakistani companies'. He further added that 'inconsistent supply and high cost of physical infrastructure, no incentives for companies to upgrade technology by importing the latest machines and equipment, exchange rate volatility, high financial costs, challenges in remittances, and frequent border closures with Afghanistan create significant challenges for export logistics to Afghanistan and CIS regions'. Most of the nearly 700 pharma manufacturers in Pakistan are focused on domestic sales, including to private and public hospitals. They do not have the critical mass to enter the export market. A number of these companies do toll manufacturing for large companies and also may not have any products registered in their names. It is now imperative that these smaller companies are encouraged to enter the export market. One suggestion floated by this writer is that a Collective be formed, initially consisting of around fifty manufacturers. The management of the Collective would be in the hands of technocrats who have in the past served in the pharma sector. The Collective would undertake steps to make these companies compliant with all conditionalities, help in procuring quality certificates, upskill their work force and managerial cadre, liaise with DRAP and other agencies, be the focal point for common procurement of raw material, and create a mutual pool of financial resources for any contingencies. The Collective will procure export orders and farm out these orders as per the facilities available in these enterprises. The pharmaceuticals would be exported under one brand and logo (say, Dawaa-Pak). However, the name of the unit could be mentioned in the packaging. The administrative expenses should be less than seven percent of the net profit, ten percent would be deposited in an escrow account in case of future needs, while eighty percent would be deposited in the member company accounts. If the enterprise has excess capacity to do toll manufacturing or direct selling, these should also be encouraged. The Collective can organize single country, single brand exhibitions in different countries such as Sri Lanka, in Africa, and in Central Asian States. An annual export target must be decided and TDAP should facilitate the project. If the idea of the Collective catches on, more enterprises who desire to enter exports could be inducted. It is imperative that smaller companies get on the bandwagon so that together, along with large manufacturers, they can soon achieve the target of USD 1 billion in national pharma exports. Over five centuries ago, Swiss physician and alchemist Paracelsus said, 'Medicine is not only a science; it is also an art. It does not consist of compounding pills and plasters; it deals with the very processes of life, which must be understood before they may be guided.' (The writer is a former President, Karachi Chamber of Commerce and Industry) Copyright Business Recorder, 2025
Zawya
5 days ago
- Business
- Zawya
Women producers in Togo to join international markets
Togo took a bold step toward inclusive trade. One hundred women entrepreneurs from across the country gathered in Lomé for a series of intensive trainings that aimed to do more than just transfer skills. The goal? To equip women entrepreneurs with the tools, confidence, and networks needed to enter and compete in international markets. As part of GIZ's PROCOMP initiative, the AMI COMMERCE Togo project, led by the International Trade Centre (ITC), brought together more than 100 women entrepreneurs with one goal: to expand their businesses beyond national borders. PROCOMP promotes competitiveness across Togo's private sector, and with the support of ITC's SheTrades Initiative, women were placed at the centre of this economic transformation. The collaboration ensured that as Togo strengthens its export capacity, women-led businesses are not only included but also empowered. Practical, tailored training Held throughout June, the trainings targeted the real needs of women-led mico, small and medium-sized enterprises (MSMEs), many of whom operate informally or have limited access to capital and market information. Sessions were adapted to participants' digital and export readiness. For women less familiar with digital tools, the training focused on using WhatsApp Business, social media, and low-cost platforms to reach more customers. Export-ready participants explored EU buyer requirements, documentation, and trade fair preparation. Additional sessions supported those in agri-food and fresh produce, covering export logistics and sanitary and phytosanitary standards. Building skills, confidence and collaboration The trainings combined technical knowledge with interactive methods—roleplays, group work, and mock buyer meetings brought concepts to life. Participants reflected on their business models, shared challenges, and developed solutions together. Importantly, the sessions strengthened market-related soft skills like communication and negotiation, critical for pitching products, responding to buyer inquiries, and navigating trade fairs. Many women gained more confidence to formalize their businesses and expand their reach. Beyond skills-building, the sessions created a supportive environment for connection and collaboration. For many, it was the first time being in a space fully dedicated to their growth as entrepreneurs. Participants left not only with strategies but with new networks and a sense of community. Toward inclusive economic growth As Togo deepens its regional integration and export potential, women entrepreneurs are vital to achieving inclusive, resilient growth. With targeted support, they are now better equipped to enter international markets—not as a distant dream, but as a tangible opportunity. In parallel, the project also strengthened key national trade facilitation mechanisms. The Mécanisme d'Alerte aux Obstacles au Commerce (MAOC) was relaunched with institutional backing and regional outreach, enabling businesses to report and resolve trade barriers more effectively. In addition, the Togo Trade Portal was developed as a digital one-stop shop for import-export procedures, offering transparency and easier access to essential trade information, including for products commonly traded by women entrepreneurs. Distributed by APO Group on behalf of International Trade Centre.
Zawya
22-07-2025
- Business
- Zawya
Sowing the seeds of digital agriculture in Ethiopia
Ethiopia's agricultural sector is going digital, with new tools offering ways to boost productivity and improve market access. In Addis Ababa, sector leaders and stakeholders explore practical steps for building a more resilient, tech-enabled farming system. With traditional farming still widespread and digital tools often out of reach for rural communities, a symposium held in Addis Ababa, Ethiopia, set out to address challenges in productivity, market access, infrastructure and digital literacy. Smallholder farmers, women, youth and others who are frequently excluded from innovation efforts, received particular attention. Organized by Orbit Innovation Hub in partnership with the International Trade Centre and Trade Ethiopia, the symposium brought together stakeholders from across the agriculture and technology ecosystems. Focused on real-world solutions The one-day programme included panel discussions, startup pitches, a documentary screening and presentations on new technologies such as AI in agriculture. The event offered a platform for exchanging ideas and exploring how digital innovation can support inclusive and sustainable agricultural growth. Orbit Innovation Hub, launched as the social enterprise arm of health tech company Orbit Health, is committed to developing the startup ecosystem in Ethiopia. 'We started this because we didn't want new entrepreneurs to face the same hurdles we did,' said COO Girum Habetewold. 'Agriculture remains central to our economy. Modernizing it is essential for long-term growth.' Support from the International Trade Centre's Netherlands Trust Fund V (NTF V) Ethiopia Tech project has been key to turning that vision into reality. Over the past three years, the programme has provided both funding and technical guidance to help Orbit standardize the symposium format, bring in international expertise and expand its reach. What began as a local idea has become a national platform with international relevance. Building networks and partnerships One of the symposium's key strengths was the range of voices in the room. Policymakers, business leaders, researchers, funders and grassroots entrepreneurs all took part. 'Everyone brought their networks,' said Kiya Girma of Trade Ethiopia. 'It helped connect people who don't usually have the chance to collaborate directly.' Trade Ethiopia, a B2B platform connecting local producers with global buyers, joined the organizing team for the first time this year. Their involvement highlighted the importance of linking agriculture, digital tools and export opportunities. 'We support cooperatives and smallholder farmers in accessing markets,' Girma said. 'Digital tools help them do that more efficiently and on better terms.' NTF V played a coordinating role in bringing these different actors together, drawing on its extensive experience in supporting agricultural trade and digital innovation across Ethiopia. Stories from the field The symposium also presented examples of what happens when digital tools and support systems are in place. For example, a young farmer from Woliso, who attended a SEED programme workshop, secured a bank loan and bought a tractor. His story illustrates how targeted training and financial access can bring new opportunities for youth engagement and economic mobility within the sector. Another example came from Kifiya Technologies, a company offering digital insurance services that help farmers manage risk and improve resilience. Speakers raised important points about the need to design tools that fit local realities, invest in digital literacy, prioritize relationships with farmers, and ensure that technology is accessible, affordable and relevant to those working in remote or underserved areas. Several panelists stressed that without strong local engagement, even the most advanced tools risk being underused or misunderstood. 'You don't get useful data unless you've built trust,' Girma said. 'Technology has to work for the people using it.' Supporting national goals The symposium directly supports Ethiopia's Digital Ethiopia 2025 strategy, which aims to unlock greater value in agriculture through digital innovation. Orbit Innovation Hub has been an active contributor to this agenda, and NTF V has served as a key partner in making that contribution possible. NTF V's broader impact extends well beyond the symposium. The project helped Ethiopian agri-businesses engage in international markets, supported women-led enterprises, and increased digital access for nearly 400,000 individuals. It also brought in direct investment and improved the capacity of local support organizations, including those involved in agricultural trade. Looking ahead As the NTF V project concludes, Orbit and its partners are exploring how to sustain and scale the work that has been started. Plans are under way for future editions of the symposium and new initiatives that will support innovation in agriculture and beyond. 'Agriculture in Ethiopia is beginning to change,' said Habetewold of Orbit Innovation Hub. 'It's a slow process, but the groundwork is being laid. Shifting from traditional practices to data-driven, tech-enabled farming will take time, especially given the scale of the sector and the realities facing smallholder farmers. But with continued investment, strong partnerships and a focus on practical outcomes, Ethiopia is taking meaningful steps toward a more resilient and inclusive farming future.' The COO added that the AgriTech Stakeholders Symposium has become a clear example of how local collaboration, combined with sustained international support, can turn good ideas into action and help reshape the agricultural landscape from the ground up. Distributed by APO Group on behalf of International Trade Centre.
Hindustan Times
15-07-2025
- Business
- Hindustan Times
In new deal, Trump keeps Indonesia tariff at 19%; country to buy 50 Boeing jets
A week after announcing a 32 per cent tariff on Indonesia, US President Donald Trump on Tuesday announced a new deal with the Southeast Asian country, saying that he would impose a 19 per cent tariff on goods from Jakarta. US President Donald Trump said he finalised the deal after speaking with his Indonesia counterpart Prabowo Subianto.(Reuters) Taking to Truth Social, Trump said, "This morning I finalized an important Deal with the Republic of Indonesia after speaking with their Highly Respected President Prabowo Subianto. This landmark Deal opens up Indonesia's ENTIRE MARKET to the United States for the first time in History." US-Indonesia trade deal He said that as part of the deal, Indonesia has committed to purchasing US energy worth $15 billion and American agricultural products amounting to $4.5 billion. The US President added that Indonesia will also purchase 50 Boeing jets, many of which would be the 777 aircraft model. "For the first time ever, our Ranchers, Farmers, and Fishermen will have Complete and Total Access to the Indonesian Market of over 280 million people," he added. Since the US and Indonesia reached a trade deal before the August 1 deadline, the Southeast Asian country will now pay a 19 per cent tariff on the goods they export to America. "Indonesia will pay the United States a 19% Tariff on all Goods they export to us, while U.S. Exports to Indonesia are to be Tariff and Non Tariff Barrier FREE. If there is any Transshipment from a higher Tariff Country, then that Tariff will be added on to the Tariff that Indonesia is paying," the US President posted. He thanked Indonesians for their "friendship and commitment" to balancing their trade deficit. "We will keep DELIVERING for the American people, and the People of Indonesia," Trump added. This deal with the relatively minor trading partner of the US is among the handful of agreements struck so far by the Trump administration ahead of the August 1 deadline for tariffs on most US imports to rise again. While detailed information about the deal is yet to be released, the rough outline provided by Trump reportedly resembled the framework agreement struck with Vietnam in recent weeks. Indonesia's total trade deal with the US, just under $40 billion in 2024, does not rank in the top 15. However, it has been growing. Last year, US exports to Indonesia rose to 3.7 per cent, while imports were up by 4.8 per cent. According to the US Census Bureau data on the International Trade Centre's TradeMap tool, the top US import categories from Indonesia last year were palm oil, electronics equipment, including data routers and switches, footwear, car tires, natural rubber and frozen shrimp. Susiwijono Moegiarso, a senior official with Indonesia's Coordinating Ministry for Economic Affairs, told Reuters, "We are preparing a joint statement between US and Indonesia that will explain the size of reciprocal tariff for Indonesia including the tariff deal, non-tariff and commercial arrangements. We will inform (the public) soon." ALSO READ | Donald Trump releases new tariff letters for Mexico, European Union The August 1 deadline on Trump's sweeping reciprocal tariffs gives the targeted countries time to crack a deal with Washington that could lower the threatened levies. So far, framework agreements have been reached with Vietnam and the United Kingdom, and an interim deal has been made with China while negotiations continue to take place between Beijing and Washington. Additionally, Trump said that negotiations with India were also moving in a similar direction. "India basically is working along that same line. We're going to have access to India. And you have to understand, we had no access into any of these countries. Our people couldn't go in. And now we're getting access because of what we're doing with the tariffs," he said.
CNBC
15-07-2025
- Business
- CNBC
CNBC Daily Open: It's refreshing to see tariffs used as a weapon for peace
Here's a tariff we can get behind. At a White House meeting on Monday with NATO's secretary general, Mark Rutte, U.S. President Donald Trump said he would introduce "tariffs at about 100%" on Russia's trade partners if the Kremlin doesn't reach a deal to end its invasion of Ukraine in 50 days. Notably, the punitive measures will be implemented as "secondary tariffs," Trump said. Unlike Trump's normal tariffs, under which a specific country is slapped with a levy, secondary tariffs impose the duty on countries and entities that buy Russia's exports. While those moves were meant to weaken Russia's economy, they do run the risk of drawing other countries' ire. According to data from the International Trade Centre, in 2024, Russia's biggest export was oil, and its biggest buyers were China, India and Turkey, in that order. That means those nations, among others, would effectively face a tariff of 100% from the U.S. — the highest of all updated numbers announced so far — if they don't shift their buying patterns. That said, it's refreshing to think of tariffs not as a weapon in a trade war (even if there might be collateral damage), but being used for peace. China's second-quarter economic growth beat expectations. Compared with a year earlier, gross domestic product expanded 5.2%. While that figure topped the 5.1% estimates in a Reuters poll, it marks a deceleration from the previous quarter's growth of 5.4%. Trump threatens 100% tariffs on Russian export buyers. The U.S. president said he will impose "secondary tariffs" on Moscow if the country doesn't end its war on Ukraine in 50 days. The White House will allow Nvidia to resume chip exports to China. The semiconductor company said Tuesday that the U.S. government has assured Nvidia it will be granted licenses to export H20 chips to Beijing. Nvidia's H20 chips were specially designed for the Chinese market. U.S. stocks tick up even after renewed tariff threats. All major U.S. indexes posted mild gains Monday stateside. Asia-Pacific markets mostly rose Tuesday. The yield on the Japanese government's 10-year bond climbed to its highest level since 2008. [PRO] How to play gold as prices trade at highs. The bullion topped a three-week high on Monday as investors piled into the safe-haven asset amid trade turbulence. Fund managers and analysts share the best ways to invest in gold. Inside Europe's billion-dollar wooden city A part of Stockholm, the capital of Sweden, is set to become the "world's largest wooden construction project," according to its developer Atrium Ljungberg, which will invest 12 billion Swedish krona (about $1.25 billion) into the project. Sickla — an industrial area to the south of Stockholm's center once known for manufacturing diesel engines — is being redeveloped using cross-laminated timber, with the material being used in its buildings' core, floors and walls.
