PTPMA says growing herbal medicine market and shared resources could attract investors
DHAKA, 19 October: Pakistani Unani pharmaceutical manufacturers are exploring investment opportunities in Bangladesh, with some companies considering setting up factories to tap into the country’s growing herbal medicine market.
Hakeem Muhammad Usman Sheikh, president of the Pakistani Tibbi (Unani) Pharmaceutical Manufacturer Association (PTPMA), said Pakistani manufacturers were keen to strengthen business ties with Bangladesh and explore opportunities in the herbal pharmaceutical industry.
“I have visited Bangladesh to gather information and survey the market,” he told The Shuttle Times in a special interview. “The people here are very friendly, and I found a favourable environment for doing business.”
Sheikh said he would present the findings of his visit at the association’s next annual general meeting, where members could discuss potential investment opportunities in Bangladesh.
The meeting would help other members assess the market and decide whether to establish businesses or invest in the country, he added.
Muhammad Arif Memon, senior vice-president of the PTPMA, said a significant number of Pakistani manufacturers were interested in investing in Bangladesh, citing similarities in resources and workforce availability.
He also described the business environment in Bangladesh as encouraging for potential Pakistani investors.
“The manufacturers are very interested in the Bangladeshi market and want to expand their businesses here,” Memon said.
According to him, the association represents at least 200 companies across Pakistan, many of which are keen to explore opportunities beyond their domestic market.
Memon said Pakistan’s reputation for producing quality products could help its manufacturers expand into Bangladesh, particularly as the country’s economy grows and demand for herbal medicines increases.
Bangladesh’s expanding herbal medicine market presents an opportunity for Pakistani manufacturers to establish a local presence, potentially enabling them to serve consumers more directly, he added.
Setting up factories in Bangladesh could also provide a platform for Pakistani companies to expand their regional business, although investment decisions would depend on individual companies’ assessments of the market and business conditions.
The potential investment interest comes as manufacturers seek to explore new markets and strengthen commercial links between Bangladesh and Pakistan.
However, any proposed investment in Bangladesh’s pharmaceutical sector would need to comply with the country’s applicable regulatory requirements, including those governing the manufacture, quality and marketing of herbal and Unani medicines.
The PTPMA’s planned presentation at its next annual general meeting is expected to provide an opportunity for its members to assess the findings of the Bangladesh market survey and consider possible next steps.
