Usha Sharma – Mumbai
On a recent visit to India Show in Colombo, Sri Lanka, Anand Sharma, Union Minister of Commerce, Industry and Textiles, discussed ways and means to increase bi-lateral relations between the two countries. Taking this initiative further, a team of six to seven officials from infrastructure development agencies and Indian pharma companies are travelling to Sri Lanka on August 14, 2012. The delegation intends to discuss joint ventures and investments in the Sri Lankan market.
Dr P V Appaji, Director General, Pharmexcil said, “This visit is an initiative of the Commerce Ministry to promote exports from pharma companies in India to the Sri Lankan pharma market. Commerce Minister Anand Sharma has assured the Sri Lankan government of his support. The Pharmaceuticals Export Promotion Council (Pharmexcil) is also separately trying to promote exports to the Sri Lankan market. Today, about 80-90 per cent medicines marketed in Sri Lanka are from Indian manufacturers.”
He informed that their discussions with seniors officials from the Sri Lankan Government will touch on issues related to NOCs, biosimilars and blacklisting of Indian companies by Sri Lankan authorities as these are the issues raised by pharma companies in India.
Appaji added, “A 20-member pharma delegation is participating in Arogya 2012 from August 17-19, 2012. During the event, we have also organised a buyer seller meet.”
The Arogya-2012 is an international event to be held in Sri Lanka in the field of healthcare and pharma sector. The event is being organised by Sri Lankan National chamber of commerce in partnership with the Ministry of Health – Sri Lanka.
During his visit to India Show, the Commerce Minister of India highlighted that India and Sri Lanka will work together towards the establishment of a pharma manufacturing hub in Sri Lanka capitalising on the vast strides made by the Indian pharma industry in meeting global quality standards at affordable prices.
As per agency reports, a fter inaugurating the show and holding discussions with the Sri Lankan leadership, Sharma also highlighted about the global trends of formation of regional trade blocks and bilateral economic agreements, and underlined the need for economic integration within South Asia, which could be part of larger Asian trade and economic architecture. The Minister mentioned that India was not seeking reciprocity in its trade and economic relationship with Sri Lanka and assured Sri Lanka of preferential access to the large Indian market. “Accepting the principle of asymmetry, that India has always done as the leading economy of South Asia, we are not seeking reciprocity,” the minister added.
The signing of a Comprehensive Economic Partnership Agreement (CEPA) will make the current economic engagement more comprehensive by bringing more investment and services in Sri Lanka. Sharma said that the two Commerce Secretaries will resume dialogue on CEPA, and resolve all related issues. “India has an abiding commitment in Sri Lanka’s Development and FTA has definitely contributed to the increase in trade,” said Sharma.
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