Budget Proposals
Drug makers seek steps to up exports
BDNEWS, Dhaka
Bangladesh Association of Pharmaceutical Industries (BAPI) has sought measures in the next budget to exploit drug export potential in view a WTO deal on medicine. In budget proposals, it sought a duty waiver on imported machinery for research and development and equipment for API (active pharmaceutical ingredients) and raising the office transfer money to $ 300,000 from current $100,000 for setting up offices abroad. Other budget proposals of the BAPI include fixing seven percent import duty on PVC (polyvinyl chloride film), used for blister packing of medicine, and two percent on disposable gloves and aprons. The drug manufacturers sought incentives for pharmaceutical exporters with having "direct financial benefit" and waiver of income tax from export earning. Under the World Trade Organisation deal, least developed countries, which also include Bangladesh, are allowed to manufacture drugs without patent rights until 2016. The BAPI requested the government to allow sending samples worth $5,000-7,000 abroad in a year and transfer 10 percent of total shipment value as agency commission to overseas partners.
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