Pharmaceutical corporations. Photograph: Reuters
ISLAMABAD:
Pakistan and the Philippines have the potential to broaden bilateral commerce within the pharmaceutical and organic sector to $1 billion, with each international locations needing to diversify commerce by specializing in trendy medicines, vaccines and medical instruments, stated Pakistani enterprise tycoon within the Philippines Abdul Razzaq Siddiq.
Speaking to the media, Siddiq, who’s President of Second World Merchants Inc, stated pharmaceutical and organic merchandise had been among the many most promising sectors for commerce diversification, including that cooperation in these areas would considerably strengthen financial and healthcare ties between the 2 international locations. He stated a Philippines-based pharmaceutical agency had opened a subsidiary workplace in Islamabad to spice up commerce and healthcare collaboration. Siddiq termed the transfer an indication of rising investor confidence and highlighted alternatives for supply-chain collaboration, expertise switch and native manufacturing.
He revealed that the corporate plans to initially import 10 million doses of Tetanus Toxoid vaccine to handle shortages in Pakistan, adopted by gradual localisation of manufacturing. He added that future tasks included the manufacturing of anti-rabies serum in collaboration with Dow Institute of Life Sciences in addition to anti-cancer medicines.
